British Prime Minister David Cameron has written to the leaders of the UK’s overseas territories and crown dependencies to encourage them to create public registries that would reveal the true owners of companies registered in their jurisdictions.
People using tax havens have deprived governments worldwide of £100 billion in revenue, enough to end extreme poverty twice over, according to new figures published by Oxfam. The total amount of lost tax revenue is far higher than £100 billion, as the figure only includes tax dodged by individuals, and not companies.