$2.8 Billion in Tax ….. Research Shows Big Tech Avoided to Developing Countries

Twenty countries across Asia, Africa, and South America are missing out on as much as US$2.8 billion in tax revenue from Facebook, Apple, and Google alone. ActionAid Organization research revealed on October 26th, 2020.  The organization, which focuses on issues related to social justice and inequality, referred to its findings as “just the tip of the iceberg” within the larger issue of how multinationals rely on tax havens to lower their tax bills – depriving countries of desperately needed revenue amidst the COVID-19 pandemic. According to its findings, if these three ‘Big Tech’ companies had been fairly taxed, the governments…