Renewed demands by the G77 for a UN-led body to stamp out tax havens were lauded by Oxfam today. G77 Ministers, who met on the side-lines of the UN General Assembly in New York, re-launched their proposal for a UN-led tax body, which was blocked at a UN meeting to discuss finance for development in Addis Ababa last year.
The European Commission’s decision on Ireland’s sweetheart tax deal with Apple shows that some tax practises can be terribly damaging. In times where poverty in Europe has been rising, governments must not churn the chance to raise billions in corporate tax income for the benefit of their citizens.
EU governments are unwilling to tackle large-scale tax avoidance of multinational companies, Oxfam says in reaction to a new directive formally approved today.
Across Africa, the money hidden in offshore tax havens could help to fight poverty and offer a lifeline out of hell to desperate women like Elizabeth, from Kenya. Join us on demanding world leaders to put an end to the era of tax havens.
This report reveals the widespread use of tax havens and low tax jurisdictions in the corporate structures of companies holding petroleum rights in Kenya.
“Today’s so-called ‘hammer blow’ against tax cheats misses. If the proposed registry of beneficial owners of companies and trusts is hidden from the public, how can we know who is hiding their profits and fortunes and trying to avoid paying their fair share?" said Susana Ruiz, Oxfam's tax policy expert.
“It’s great to hear tough talk from both Jim Kim and Christine Lagarde on ending tax havens. We’ve seen this happen time and time again: when the richest fail to pay their fair share, the budgets for education, health, and other social services that the poorest depend on, are the first to get slashed," said Chris Stalker, acting head of Oxfam International's Washington office.
Oxfam is calling on the World Bank Group to put safeguards in place to ensure that its clients can prove they are paying their fair share of tax.
Fifty one of the 68 companies that were lent money by the World Bank’s private lending arm in 2015 to finance investments in sub-Saharan Africa use tax havens, Oxfam revealed today.
Banks in France are relying heavily on tax havens to increase their profits, according to a study based on new data that for the first time allows a proper analysis of the role that tax havens play in European business.