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Govts Lose $500bn to ‘Profit-Shifting’ Enterprises Annually — UN

Profit-shifting enterprises cost governments about $500 billion (N190 trillion) in losses annually, according to a United Nations panel of experts. Profit shifting is a corporate tax planning strategy used by multinationals to move profits from higher-tax jurisdictions to lower-tax jurisdictions thus reducing their tax burdens in the higher-tax jurisdictions. The estimate came …

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