Tax flight from Developing nations nearly $500 billion a year

Tax flight in a growing loss of financing in developing countries now estimated at approximated 500 billion US dollars a year. Because of in adequate foreign aid developing countries are particularly dependent on domestic resources for their development. Combating tax flight must be tackled within the context of financing for development and addressing global threats to our own national security. Tax evasion and tax avoidance strategies are complex and a variety of actors are involved, both in the developing countries and at the international level.
Measures to combat tax flight unlikely to be effective without uniform global regulations and enforcement. If just one nation creates a tax haven any global tax scheme becomes ineffective.