US backed global gag order shields MNCs: India’s tax loss pegged at $24.2 bn over five years

A global gag order, backed by the US, has prevented countries from revealing multinational corporations shifting billions to tax havens. This has resulted in over 475 billion dollars in lost corporate tax revenue between 2016 and 2021. The US itself is the biggest loser. Efforts are underway at the UN to lift this order and protect national tax sovereignty.