This article is republished from The Conversation under a Creative Commons licence
by
Miroslav Palanský, Charles University
Tax havens have become a defining feature of the global financial system. Multinational companies can use various schemes to avoid paying taxes in countries where they make vast revenues. In new research, my colleague Petr Janský and I estimate that around US$420 billion in corporate profits is shifted out of 79 countries every year.
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