Chai Indian News
Published in

Chai Indian News

Tax Abuse In India — Billions Flying Away


The Report

  • Countries are losing over USD 427 billion in taxes every year due to tax abuse and evasion. To put that into perspective, that’s nearly 34 million nurses’ salaries lost every year or one nurse’s yearly salary lost per second.
  • Out of USD 427 billion, MNCs are responsible for USD 245 billion in tax evasion. The remaining USD 182 billion is lost to wealthy individuals hiding their incomes offshore.
  • Higher-income countries like the US lose out on a lot more tax than low-income countries. However, the impact on low-income countries is far greater.

How do MNCs avoid taxes?

Possible Solution



Big stories from India de-constructed and simplified.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store