The BVI might be responsible for global tax losses of $37.5 billion? <--lets take a look at that numberhttps://twitter.com/TaxJusticeNet/status/992685254791098368 …
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Its based on the assumption that the beneficial owners of 80% of value of incorporated companies are evading tax by not declaring the income to their home jurisdiction @alexcobham explains here https://www.taxjustice.net/2017/06/21/bvi-blagging-venal-income/BVI … It's a big assumption. Do you think its a reasonable guess?
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There is some more info, for context in the
@BVIFinance@CapEconomics report https://bviglobalimpact.com/global-contribution … - we are mainly talking about corporate group structuring, fund and investment businesses, joint ventures , listings and vesselspic.twitter.com/JHrWMonPR7
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Most of the value is in the biggest companies, not in the long tail of incorporationspic.twitter.com/cXZnedBzyp
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The owners are mainly in Ching & HK, Europe (including big chunks from Russia & UK)pic.twitter.com/UqKplTByGH
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So for the 80% assumption to be true means the majority of largest owners of the large companies (mainly in places w tax information exchange agreements w BVI) are routinely evading tax by just not declaring their income from these holdings. Is that credible?
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(I don't know - but I'm hoping
#taxtwitter can give an informed view) /endsShow this thread
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No way is this correct.
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Would you hazard an informed gut-feeling estimate of the right range for the % ?
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