Belgium 15th in the world in terms of “losses” related to tax optimisation
Wednesday, 29 March 2017
Belgium can be ranked 15th in the world in terms of the shortfall generated in its fiscal public budget by the tax optimisation (or evasion) devised by multinationals, according to two researchers from a Finnish institute, the results of which are included in Le Soir. According to the calculations of the two researchers from the United Nations University – World Institute for Development Economics Research (UNU-Wider), the “losses” of the Belgian State, related to the escape of potential taxes from large companies, is estimated at 3.5 billion dollars a year, or 0.7% of GDP or 3.2 billion euros. The United States is the first in this “ranking” by country, with a shortfall for the treasury estimated at nearly $ 190 billion (just over 1% of GDP).
Researchers Alex Cobham and Petr Jansky point out that the magnitude of tax evasion could be calculated much more precisely if states decided to impose country-by-country reporting, as proposed by the OECD. They also note that the transfer of profits to “welcoming” tax jurisdictions has increased since the 1980s, even though official corporate tax rates have fallen considerably in most countries, writes Le Soir.