Global corporations ‘cheating public out of billions in tax’, say campaigners

An OECD concession allows multinationals not to be named and shamed if they provide global information about shifting profits into tax havens. Photograph: Charles Platiau/Reuters

Governments around the world could reap almost $90bn a year extra in tax if they made public their data on the extent to which multinational companies use tax havens, an advocacy group reports.

The Tax Justice Network said states were depriving themselves of $89bn (£75bn) a year by allowing some of the world’s biggest companies anonymity over the way they conduct their tax affairs.