With corporate tax evasion featuring heavily in the news lately, little is being said about the system that makes it all possible: tax havens. One of the biggest and most important is the City of London, the hub of the global tax haven system through which billions in untaxed profits flow every day. That's why it's being called the Tax Haven Capital of the World.
Read the full statement below, which we'll publish in a major UK newspaper, and add your name to show your support for the citizens of the UK telling David Cameron to clean up his own backyard and stop stealing the world's wealth.
The full statement:
Dear citizens of the UK,
You might have heard how corporations like Amazon and Starbucks have huge sales in Britain but are paying almost zero tax here. Theyʼre not the only ones. An estimated $145 billion is lost from the UK every year because of corporations and individuals dodging taxes, often with the help of tax havens.
But Britain is not alone. At least $750 billion is siphoned out of the worldʼs poorest countries, costing them at least $100 billion every year. Investigations show that the money trails often donʼt start in tax havens like the Cayman Islands, they start in the City of London.
Your Prime Minister David Cameron has promised to stop tax cheats. He's in a powerful position to do so, but hasnʼt said a word about the Tax Haven Capital of the World. The City of London Corporation, which has secret bank accounts thanks to special Freedom of Information (FOI) exemptions, should be his first target.
We stand with you in calling on your Prime Minister to clean up his own backyard by ending the FOI exemptions for the City of London.
Citizens of the world
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