According to a report in India:
Tax havens like Mauritius with which India has a tax treaty or Bermuda, shield a staggering $225 billion in unpaid taxes a year, according to Girish Vanvari, Executive Director at KPMG for M & A Tax. The US alone loses $60 billion a year.
I have no idea where the figure comes from – indeed it looks suspiciously like a misquote of TJN’s $255 billion, but it’s good to see KPMG accepting the scale of the problem.
2 Responses to “KPMG says tax havens cost $225 billion a year”
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Even though they are complicit in many of these arrangements?
I wonder why India would have to maintain its tax treaty with Mauritius if India has suffered potential “loss” due to the treaty
Now it seems that it is also the reason why Indonesia government has decided to cancel the tax treaty with Mauritius