Amazon CEO Jeff Bezos (Image: Dennis Van Tine/STAR MAX)

Every year, the world is losing over US$427 billion in fiscal resources to international corporate tax abuse. On average countries are losing the equivalent of 9.2% of their health budgets to tax havens every year.

In Australia's case, the figure is the equivalent of 4.87% of what the country spends on health, an amount that is the equivalent of the salaries for almost 54,000 nurses.

Of the $427 billion, multinational corporations are to blame for nearly $245 billion, thanks to the practice -- mostly legal -- of “profit-shifting”, according to a new report by the Tax Justice Network, Public Services International and the Global Alliance for Tax Justice.