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Tax Havens Lyrics by Massive Attack

Eutopia

2020

[Intro: Saul Williams]
And it goes like it's supposed to be
Ain't nobody scared, came prepared, cryptocurrency
Can not feel love on the market

[Monologue: Gabriel Zucman]
The international tax haven system syphons off $700 billion dollars in profit each year from sovereign states. Even in normal economic times, the damage to those countries is extraordinary. Countries like Britain, France, Germany, and Nigeria lose 20% of their corporate tax revenues to these offshore secrecy jurisdictions. In the year approaching the COVID-19 outbreak, close to 60% of U.S. multinationals foreign profits were booked in tax havens. Profits moving to these havens are totally artificial. There's very, very little real economic activity in tax havens. The economic and thus social scarring of this pandemic is without modern precedent. So, how do we end tax haven extraction in a time of emergency? First, we should publicly highlight that big multinationals have a tax deficit. The tax deficit is the difference between what a corporation should pay if it were subject to a minimum tax rate of say 25% in each country where it operates and what this company actually pays. Second, countries must collect this tax deficit. To do so, we can simply look at what sales are actually made. When this company makes 10% of its sales in Britain, then Britain collect 10% of their tax deficit. We don't even need a global agreement to end tax havens. Any single country can unilaterally decide to collect the tax deficit of tax-dodging multinationals today. If several nations join forces as nations like France, Denmark & Poland effectively have, in barring companies registered in tax havens from state bail outs, this could be enough to render tax havens useless for major companies. And collecting the tax deficit of giant multi-nationals would be vital to treasuries and public services now on course for colossal strain

[Outro: Saul Williams]
And it goes like it's supposed to be
Ain't nobody scared, came prepared, cryptocurrency
Can not feel love on the market
Wouldn't change a word, but I'll spark it
When you make a move, it was downright
You saw it, win or lose, it was downright
Yes, I'm deep in the trenches
Ain't go no names for them kind of dimensions
Ain't breathless
Ain't breathless
Ain't breathless
Credits
Massive Attack

Massive Attack

About “Tax Havens” by Massive Attack

Read the complete lyrics to "Tax Havens" by Massive Attack from the album "Eutopia" in 2020. On Lyrks you can follow along with the full text, explore the artist's discography, and discover related songs. The track is often categorized under Spoken Word, Electronic, Pop.

"Tax Havens" is performed by Massive Attack. from the album "Eutopia" in 2020 This page provides the full lyric text for fans who want to sing along, study the songwriting, or compare versions across releases. Lyrks organizes lyrics by artist and song slug so you can bookmark and share a stable URL. Music lyrics help listeners connect with emotion, narrative, and rhythm in a track. Whether you are learning English, researching a favorite chorus, or preparing for karaoke, having accurate line breaks and section labels (verse, chorus, bridge) makes the experience easier. We link to the official artist profile on Lyrks where available, including biography snippets, top songs, and chart placements when we have that data. If you enjoy "Tax Havens", explore more songs by Massive Attack using the links below. Chart and trending pages on Lyrks highlight what listeners are searching for this week. For copyright or correction requests, see our DMCA and contact pages.

View all songs and biography for Massive Attack · Trending lyrics · Billboard Hot 100

Frequently asked questions

"Tax Havens" is credited to Massive Attack. Songwriting credits may include additional writers listed on the release; check the credits section on this page for linked collaborators.

"Tax Havens" appears on "Eutopia" in 2020.

Visit the Massive Attack artist page at /artist/massive-attack for biography, popular tracks, and links to more lyric pages.

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