A quarter of the 5.7 billion euros: large German corporations are the drivers of tax losses – the economy

A quarter of the 5.7 billion euros: large German corporations are the drivers of tax losses - the economy

The IFO Institute estimates that tax authorities are saving billions of dollars by tax evasion by major German corporations. According to the Frankfurt Olgmein Zeitung (FAS), the state loses ബ 1.6 billion a year to 333 large German multinationals alone.

If you include small companies with foreign businesses and German subsidiaries of foreign multinationals, the result is a tax loss of 7 5.7 billion per year.

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Clemens Foost, president of IFO, along with other researchers, based his report on 333 large companies in their country-specific report, which researchers were able to evaluate for the first time.

Researchers have identified Ireland, Liechtenstein, Luxembourg, Malta and Cyprus as tax havens within Europe, and Bermuda, the British Virgin Islands and the Cayman Islands as oases outside Europe.

Fass says the researchers were able to shed more light on reports from the companies. A total of 47 47 billion – or nine per cent of the total global profits of large corporations – to tax-based subsidiaries.

However, in the opinion of economists, profits in tax havens do not automatically mean tax evasion. On the contrary, 62 percent of the profits from tax bases go to real economic activity. According to the report, the change in profits was the result of a 38 per cent tax exemption. (Reuters)

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