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Data in SocietyChallenging Statistics in an Age of Globalisation$
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Data in Society: Challenging Statistics in an Age of Globalisation

Jeff Evans, Sally Ruane, and Humphrey Southall

Print publication date: 2019

Print ISBN-13: 9781447348214

Published to Policy Press Scholarship Online: May 2020

DOI: 10.1332/policypress/9781447348214.001.0001

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Tax justice and the challenges of measuring illicit financial flows

Tax justice and the challenges of measuring illicit financial flows

Chapter:
(p.103) 8 Tax justice and the challenges of measuring illicit financial flows
Source:
Data in Society
Author(s):

Richard Murphy

Publisher:
Policy Press
DOI:10.1332/policypress/9781447348214.003.0009

Multinational corporation tax avoidance is primarily about tax avoidance. That is, recording transactions in ways that are legal but which might not meet with the approval of the all the tax authorities who might be impacted by the way in which transactions are recorded are reported. This is most especially true of many transactions involving tax havens. The problem with tracing transactions recorded in these places has, however, been locating any data on them because if the accounting opacity that they create, which is also permitted by existing accounting standards for multinational corporations. Country-by-country reporting was created to tackle this opacity head-on by requiring that all large corporations report all their transactions wherever they might arise. The result could be far greater information on the illicit financial flows of major companies, or their potential elimination.

Keywords:   Tax, transparency, illicit financial flows, country-by-country reporting, tax havens

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