India’s top investing countries figure in Tax Haven Index; nearly US$ 311 billion is lost to cross border tax abuse by MNCs

The Tax Justice Network’s ‘Corporate Tax Haven Index’ identifies the UK, through its territories like the British Virgin Islands and Cayman Islands, as the top enabler of corporate tax avoidance. Switzerland, Singapore, and Hong Kong follow closely. The report estimates US$311 billion is lost globally due to multinational corporations’ tax abuse, impacting heavily on FDI inflows.