Video / Nov. 25, 2011

Huge Cost of Tax Evasion Revealed as Campaign to Tackle Tax Havens Launches

New research published by the Tax Justice Network shows that tax evasion costs 145 countries, representing over 98% of world GDP, more than US$3.1 trillion annually.

In the UK for instance, a staggering £69.9 billion a year is lost to tax evasion in the ‘shadow economy’ - that is, 56% of the country’s total healthcare spend.

Tax havens are a major part of the tax evasion problem – these new findings come as the Tax Justice Network launches Tackle Tax Havens, a new campaign aimed at the general public that highlights the critical role that these secretive states play in corrupting the global economy.

Click here to visit the new site, and watch the video below.