Citigroup: a culture and history of tax evasion

The report. Citigroup – a culture and history of tax evasion  

By Lucy Komisar

This report describes and details a history of tax evasion by the world‘s largest
financial     conglomerate,     Citigroup.     Going     back     decades,     it     is     a     story     of
repeated, aggressive tax evasion for itself and clients, depriving governments
and therefore citizens of huge amounts of funds and carried out with relative

The   Tax   Justice Network   nominates   Citigroup   for   the Public   Eye   on   Davos
Award     for   excelling     in     socially     irresponsible     behavior   by     engaging     in     tax
evasion and facilitating tax evasion by its clients. By its actions, Citigroup has
violated both international money-laundering rules and the highest standards of
corporate social responsibility and ethics.

Tax     evasion     by     corporations     and     the     very     rich     impoverishes     people     of     all
countries, increases the gaping divide between the rich and the poor, and
shifts the tax bill to the middle class and small businesses who don‘t and can‘t
avail themselves of mechanisms created for hiding and laundering income and
profits.     The     capital     flight     that     is     a     function     of     tax     evasion     beggars     the
economies of developing countries, transferring the wealth of the poor to the
industrial world.

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