Dutch political party GroenLinks wants steps taken against diversion of money to tax havensAug 06, 2012
In response to the report 'The Price of Offshore Revisited' by the Tax Justice network, Dutch political party GroenLinks has asked questions in parliament about tax avoidance. GroenLinks wants the Netherlands to take measures against diversion of funds to tax havens.
This research shows that a rich elite may have kept amounts up to $21 trillion out of reach of the taxman. As a result governments worldwide are missing out on $189 billion in tax revenues. Tax Justice not only refers to uncollected taxation but also notes that global inequality has increased.
Suggestion: The report makes clear that not only tax revenue has been lost, but that wealth throughout the world has become more unevenly distributed than previously considered possible.
The research was published in July 2012 by British newspaper The Observer. James Henry – former chief economist at McKinsey – used data of the IMF, the World Bank, the United Nations and central banks for the study. Read the report 'The Price of Offshore Revisited' of Tax Justice or read more about the research here.