# $1 trillion in the shade – the annual profits multinational corporations shift to tax havens continues to climb and climb

- Link: https://www.widthness.com/1-trillion-in-the-shade-the-annual-profits-multinational-corporations-shift-to-tax-havens-continues-to-climb-and-climb/
- Published: 2023-02-28T10:00:35-06:00
- Author: Curated by John Wysocki

Image: The Conversation – CC BY-NC-ND. Article by Ludvig Wier and Gabriel Zucman. The Conversation – February 23, 2023. About a decade ago, the world’s biggest economies agreed to crack down on multinational corporations’ abusive use of tax havens. This resulted in a 15-point action plan that aimed to curb practices that shielded a large chunk of corporate profits from tax authorities. But, according to our estimates, it hasn’t worked. Instead of reining in the use of tax havens – countries such as the Bahamas and Cayman Islands with very low or no effective tax rates – the problem has only gotten worse. […] Click here to view original web page at theconversation.com