Global Tax Evasion Report
The EU Tax Observatory published the first Global Tax Evasion report, analyzing the successes and failures of the fight against tax evasion over the last decade.
Check out the six key findings of the report:
1. Offshore tax evasion has declined by a factor of about three in less than ten years.
2. A persistently large amount of profits is shifted to tax havens: $1 trillion in 2022.
3. The global minimum tax has been dramatically weakened.
4. New forms of tax competition are emerging with adverse effects on government revenue and inequality.
5. Global billionaires have very low personal effective tax rates, of between 0% and 0.5% of their wealth.
6. A minimum tax on billionaires equal to 2% of their wealth would generate nearly $250 billion from less than 3,000 individuals.
