Bahamas tax haven leak shows global tax system is broken | ActionAid UK

Bahamas tax haven leak shows global tax system is broken

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ActionAid Tax Policy Adviser, Anders Dahlbeck, responding to a tax leak from the Bahamas, said:

“This massive tax haven leak yet again demonstrates that the international tax system is broken. Those with the means to do so are able to break the rules on a massive scale, benefiting at the expense of some of the poorest people in the world.

“And it’s not just individuals who benefit from the global network of tax havens. Big companies can use some offshore schemes to reduce their tax bills in the UK, and in some of the poorest countries in the world. The IMF estimates that developing countries lose US$200 billion a year to corporate tax avoidance. Women and girls living in poverty pay the price as key public services like schools and hospitals are starved of funding.

“The UK government should champion a fairer international tax system. Demanding greater transparency from UK tax havens like the British Virgin Islands would be a good place to start.”

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