Tuesday, June 18, 2013

CNN: a single tax dodge deprived India of enough revenue to feed every Indian primary schoolchild for a year

CNN is running an excellent article entitled How tax havens stole your money. It's worth reading in full, and the photo at the top is interesting. But we thought we would highlight this particular snippet, drawn from an ActionAid report last year:
"In one case a single - entirely legal - transaction through UK-linked tax havens would have provided $2.2 billion in tax if it had not taken place offshore, according to the Indian government. This is almost enough money to provide every Indian primary school child with a subsidised midday meal for an entire year."
That is one single case. Compare this single item alone to Britain's global aid budget, and you get an outrage. Add up all of these transactions, for all of the countries that are victims, and you get one of the great scandals of our age.


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