Close to 40% of multinational profits are moved to tax havens each year

January 12, 2023 9:33 AM

Explore the Missing Profits of Nations map to see how much profit and tax revenue your country loses (or attracts) in this shell game for profits. Shifting reduces corporate income tax revenue by more than $200 billion, or 10% of global corporate tax receipts.
posted by spamandkimchi (10 comments total)

Effective US corporate tax rate: https://fred.stlouisfed.org/graph/?g=YFEP

funny how we don't see that in the corporate media
posted by Heywood Mogroot III at 9:37 AM on January 12, 2023 [13 favorites]

Actual good news: In 2021, 130 members of the OECD agreed to a new framework to limit international tax competition.
posted by Mr.Know-it-some at 10:03 AM on January 12, 2023 [7 favorites]

[redacted]
posted by anecdotal_grand_theory at 10:19 AM on January 12, 2023 [3 favorites]

This is such great research - and I'm so grateful that they provide all the underlying data for easy download.

The map was really interesting - I was surprised to see Uruguay and France in the > 20% category, since I think of both of them as relatively left-leaning countries, and I would expect their tax laws to reflect that.

I probably won't get to dig into this as thoroughly as I'd like, but I've bookmarked it for later.

Thank you so much for posting this, spamandkimchi!
posted by kristi at 10:49 AM on January 12, 2023 [1 favorite]

Actual good news: In 2021, 130 members of the OECD agreed to a new framework to limit international tax competition.

One weird trick is to defund and disable tax collection.
posted by They sucked his brains out! at 10:53 AM on January 12, 2023 [8 favorites]

Captalism is a failure , this is a significant piece of evidence, glad this is getting out of the "Panama Papers" style memory hole

Follow the tax justice network podcasts
posted by eustatic at 11:40 AM on January 12, 2023 [6 favorites]

This is why we can't have nice things.
posted by The Underpants Monster at 12:05 PM on January 12, 2023 [8 favorites]

Compare it to map of global tax rates:

https://ubique.americangeo.org/map-of-the-week/map-of-the-week-mapping-global-corporate-tax-rates/
posted by BWA at 12:51 PM on January 12, 2023

This is why we can’t have nice things.

Heh. More literally and directly than one usually sees that phrase used, even.
posted by eviemath at 2:34 PM on January 12, 2023 [4 favorites]

Isn’t it a bit surprising that it’s only ~40%?
posted by kickingtheground at 3:41 PM on January 12, 2023 [4 favorites]