$427bn a year lost to tax abuse by firms and rich individuals, study finds

Tax Justice Network calls on G20 to tighten rules, saying system is programmed to fail'

Tax abuse by multinational companies and avoidance by rich individuals is costing countries $427bn a year in lost revenues, according to a study by a global advocacy group.

The Tax Justice Network said its report revealed for the first time the extent of the resources being lost, and it called on this weekend's meeting of the G20 group of developed and emerging market countries to tighten the rules.