Monthly Archives: September 2018

Tax Havens Drive Environmental Degradation

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Republished courtesy: Flickr user thetaxhaven

By Roberta Attanasio, IEAM Blog Editor

The expansive and opaque offshore system used for tax-dodging all around the world — and detailed in the leaked classified files known as the “Panama Papers” and “Paradise Papers” released in the past few years — is responsible for significant losses of tax revenues, currently estimated at around US$500 billion annually. This offshore system, which includes a variety of so-called tax havens and is used by wealthy individuals, companies, and financial institutions, causes serious concerns related to the global economy and has a tremendously negative effect on the global fight to end poverty.

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