Developing countries lose billions annually through tax avoidance and evasion. New UN-led initiatives are helping but global action is still required
Over the last 15 years, developing countries have increased domestic revenues by on average 14% annually. Domestic revenues of developing economies amounted to USD 7.7 trillion in 2012; that’s USD 6 trillion more than in 2000. Domestic resources are the largest, most important and most stable source of finance for development. Can we expect these resources to keep on increasing in the coming years?