Latin America & Caribbean: tax revenue loss caused globally 2021
In a study conducted in 2021, the Cayman Islands were found to be the territory that most enabled private tax evasion in the world. This Caribbean jurisdiction caused a total tax revenue harm of more than 136 billion U.S. dollars globally, considering the volume of taxes avoided or evaded worldwide by corporations operating in its territory. The British Virgin Islands ranked second in the Latin American and Caribbean region, with almost 15.4 billion dollars of tax avoidance or evasion harm inflicted on other countries around the globe. Both these Caribbean dependencies received the highest corporate tax haven index score that same year.
