New Government Report: Tax Havens
Tax Havens: International Tax Avoidance and Evasion
by Jane G. Gravelle
Paperback, 47 pages, 2010, $20.00
“The federal government loses around $100 billion per year, both in individual and corporate income tax revenue, from the shifting of profits and income into low-tax countries, or tax havens. International tax avoidance can arise from multi-national corporations who shift profits into low-tax foreign subsidiaries or wealthy individuals who set up secret bank accounts in tax haven countries.
Contents of this report: Introduction; Where are the Tax Havens?; Methods of Corporate Tax Avoidance; The Magnitude of Corporate Profit Shifting; Methods of Avoidance and Evasion by Individuals; Estimates of the Revenue Cost of Individual Tax Evasion; Alternative Policy Options to Address Corporate Profit Shifting; Options to Address Individual Evasion; Other Measures That Might Improve Compliance; Legislation Enacted.”