UK and territories are 'greatest enabler' of tax avoidance, study saysThe UK and its “corporate tax haven network” is by far the world’s greatest enabler of corporate tax avoidance, research has claimed. British territories and dependencies made up four of the 10 places that have done the most to “proliferate corporate tax avoidance” on the corporate tax haven index. The index scores each country’s system based on the degree to which it enables corporate tax avoidance, combined with the scale of its corporate activity, to determine the share of global corporate activity put at risk of tax avoidance by the country. It added: “The UK, with its corporate tax haven network, is by far the world’s greatest enabler of corporate tax avoidance and has single-handedly done the most to break down the global corporate tax system, accounting for over a third of the world’s corporate tax avoidance risks. The Tax Justice Network said the scale at which jurisdictions have enabled corporate tax avoidance risks to entice multinationals has made countries’ corporate tax rates “meaningless”.

Source: The Guardian May 28, 2019 18:20 UTC