UK Fails to Recover £11BN in Unpaid Corporate Tax
UK Chancellor Rachel Reeves discussed budget challenges as the Tax Justice Network released a report revealing the UK could have recovered £11 billion in corporate tax from tax havens.
The UK government has had a simple transparency measure since 2016 but has yet to use it.
Australia and EU countries have begun using this measure, which can reduce multinational corporations' tax cheating by over a quarter.
The report highlights the potential for significant revenue recovery.
Author's summary: UK misses £11BN in tax.