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Economics

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Tax avoidance costs the global economy $427bn a year,

Graham Watson

20th November 2020

The Tax Justice Network reports here that tax avoidance costs the global economy $427bn a year. That’s a nurse’s yearly salary lost every second.

Half of that amount comes from situations where multinationals have repatriated profits from where they've been generated to tax havens.

Corporate and personal tax avoidance is one of the defining issues of the age and an important one to raise in evaluation when discussing fiscal policy, poverty and inequality, the economics of globalisation and much else besides. The full report can be found here.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to Tutor2U, reads voraciously and is interested in all aspects of Teaching and Learning.

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