Every year, the world faces extreme annual tax losses because of the tax abuse by some territories. The infographic below identifies the countries that are responsible for the largest tax losses, among which the top country responsible for it is the Cayman Islands. According to the latest State of Tax Justice 2020 report, the average loss of annual global tax by the Cayman Islands is $70.4 billion, accounting for 16.5% of the world’s total tax abuse.
Followed by the United Kingdom and the Netherlands at the second and third places respectively, $4.5 billion (9.9%) loss is by the UK whereas, $3.5 billion (8.5%) by the Netherlands. To our surprise, others in the list include the United States of America, Hong Kong, China, Singapore, and a few other highly developed countries.
The infographic below indicates the amount of global tax lost by different countries and what percent does it make on an average.
Infographic by: Statista.com