UK Leaving £11BN in Unpaid Corporate Tax
UK Chancellor Rachel Reeves discussed budget challenges as the Tax Justice Network released a report on recovering £11 billion in corporate tax from tax havens.
A simple transparency measure, available since 2016, could have achieved this, but it remains unused by the UK government.
- Australia and EU countries have started using this measure in 2023.
- Research shows it can reduce multinational corporations' tax cheating by over a quarter.
The UK could have recovered £11 billion in corporate tax from tax havens by exercising a simple transparency measure.
Author's summary: UK misses £11BN in tax due to unused transparency measure.
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