Why We Need Transparency and Regulation:

Interesting Facts found in False profits: robbing the poor to keep the rich tax-free (2009)
A Christian Aid Report

•    £23.1 billion is lost from developing countries annually to the mispricing of oils and waxes
•    £18.1 billion is lost from developing countries annually to the mispricing of optical, photographic, medical,  and surgical instruments and accessories
•    Malaysia is the number one country that loses the most money to the US through trade mispricing

o    From 2005-2007, Malaysia lost £92,951 million to the US

•    The biggest losses of revenue from low-income countries to the UK, EU, UK and Ireland from 2005-2007 are:

o    Nigeria: £502 million
o    Pakistan: £305 million
o    Vietnam: £251 million
o    Bangladesh: £158 million

•    Total tax losses from developing countries are greater than the annual global development aid budget
•    Total tax losses from developing countries are greater than the £28-42 billion the World Bank estimates will be necessary annually to meet the Millennium Development Goals by 2015
•    In 2007, Bangladesh lost £266 million from its knitting and crocheting apparel industry
•    The Ivory Coast, Ghana, Cambodia and Chad are among the top ten countries that lost the most tax revenue through bilateral mispricing to the US and the EU (2005-2007)
•    The Trades Union Congress estimates that the taxes paid by UK households every year is used to close the UK’s tax gap of £12 billion per year lost due to the ingenuity of corporate accounts

o    If corporations paid their taxes, each UK household would pay significantly less in taxes