Tax evasion 'costs lives of 5.6 million children in the developing world'

If the super-rich and the world's largest companies paid their fair share in taxes, more than 5 million children could be saved in the developing world, according to a report by Christian Aid. The British charity group says the widespread, damaging effects of tax abuse is "tantamount to a new slavery." It says that at least £82 billion ($160 billion) in tax revenues each year that could go to poor countries is instead being redirected to tax havens.

Christian Aid has condemned high-profile individuals and corporations for minimizing their tax bills by banking offshore. They recognize there is a conventional distinction between such 'tax avoidance' and the unlawful 'tax evasion', but are effectually the same. "The pursuit of profit outweighs all other considerations, including good citizenship and social responsibility."

EU governments have recently tried to crackdown on tax havens in hopes of recovering lost revenues. Ironically, though, even Britain's CDC plc, formerly the Commonwealth Development Corporation and still owned by the Department for International Development, pays no taxes on its £350m of profits, thanks to its use of tax havens, even though its main aim is to fund development projects.

What do you think about Christian Aid's claims that the super-rich have social responsibility to the developing world? Should individuals/corporations be allowed to protect their assets if they're doing so legally?