According to the Tax Justice Network, US-headquartered multinational corporations cost countries around the world $495 billion in lost corporate tax over a six-year period, accounting for 29% of the global total of $1.7 trillion lost to global corporate tax abuse.
The United States itself is the biggest loser, with $271 billion lost to its own multinationals.
Over a quarter of the $1.7 trillion corporate tax loss could have been prevented with public country by country reporting.
The report highlights the significant impact of corporate tax abuse on a global scale.
Author's summary: Tax abuse costs countries $1.7 trillion.