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SVG Green Party View: Tax havens for foreigners in SVG: Very bad for our people
It is clear to all that tax havens for foreigners in SVG are very bad for our people. Super-rich foreigners in SVG are getting away with not paying hundreds of millions of tax that should be going into the SVG Treasury. Tax havens make the super-rich richer and make indigenous Vincentians poorer. It is the poor and women and children who suffer the most from tax havens in SVG.
According to the UK aid charity Oxfam, since 2015, the richest 1% has more wealth than the rest of the world combined. This extreme economic inequality is fuelled by an epidemic of tax evasion and avoidance that has reached an unprecedented scale. While millions across the world live in poverty, rich individuals and companies, exploiting tax havens, are continuing to dodge their taxes, depriving the poorest countries from being able to provide vital services.