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Taxes and social instability: How large corporations and wealthy taxpayers hide taxable money?

Author

Listed:
  • Miaba Louise Lompo

    (Governement of Quebec, Québec, Canada)

  • Marie Madeleine Ouoba

    (Department of education, Université Virtuelle, Ouagadougou, Burkina Faso)

Abstract

Non-compliance with tax obligations, particularly by wealthy taxpayers and large corporations, continues to represent a source of social injustice that fuels social instability, especially in developing countries. Understanding the strategies of tax evasion and avoidance is of critical importance. This article highlights five main strategies used by large corporations and wealthy taxpayers to avoid taxes, including tax havens, the underground economy, aggressive tax optimization, alternative financial markets, and crypto currencies. We also propose several actions to tackle global tax non-compliance, including prevention, peer reporting, active monitoring of compliance indicators and inter- national cooperation. These actions can be combined to achieve optimal results in reducing tax evasion and avoidance.

Suggested Citation

  • Miaba Louise Lompo & Marie Madeleine Ouoba, 2024. "Taxes and social instability: How large corporations and wealthy taxpayers hide taxable money?," Economic Analysis Letters, Anser Press, vol. 3(1), pages 36-45, March.
    • Handle: RePEc:bba:j00004:v:3:y:2024:i:1:p:36-45:d:223
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    References listed on IDEAS

    as
    1. Maris Vainre & Laura Aaben & Alari Paulus & Helleka Koppel & Helelyn Tammsaar & Keiu Telve & Katre Koppel & Kaia Beilmann & Andero Uusberg, 2020. "Nudging towards tax compliance: A fieldwork-informed randomised controlled trial," Journal of Behavioral Public Administration, Center for Experimental and Behavioral Public Administration, vol. 3(1).
    Full references (including those not matched with items on IDEAS)

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