Countries worst affected by tax avoidance

Corporate tax is a vital source of government revenue across the globe. It is especially vital in developing countries, argues the latest report by UNUWIDER . Their findings highlight extent of global tax avoidance — as well as the countries facing the biggest shortfalls. Building on an earlier IMF study, the report offers two perspectives — overall loss estimates, and losses as a percentage of GDP. In terms of overall losses, you probably won’t be surprised to see some of the world’s biggest economies at the top. Given the size and strength of their economies, they’ve racked up significant losses. The US loses an estimated $188 billion every year, with China a distant second at $66.8 billion.