Fraud costs Britain £30billion a year – far more than previous estimates – Telegraph.
The government is now saying tax evasion amounts to £15 billion a year.
The only trouble is that is not true. The real level of tax evasion is something like £70 billion a year.
Why not say it as it is?
3 Responses to “Still not recognising the true scale of tax evasion”
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Richard,
You fail to caveat your estimate of $70bn by stating that it relies on an extrapolation across all taxes of the official estimate of tax loss rate on VAT alone.
This is an extrapolation that you have been unable to substantiate despite being asked numerous times to do so (on this blog and elsewhere).
eg
Even fifteen billion is a colossal amount. Why is there not the same campaign chasing tax fraudsters as there is with benefit cheats? We’re closing in…
Especially since the VAT estimate by HMRC includes VAT lost on excise fraud (baccy and booze smuggling for example,) plus carousel fraud.