Today the European Parliament adopted the report by its Panama Papers inquiry committee and voted in favor of recommendations aimed at stopping corporate tax avoidance across the European Union. Oxfam welcomes the Parliament's call for EU member states to adopt the reforms needed to end corporate tax abuses.
Over 50 leading financiers have expressed their support for a European Financial Transaction Tax (FTT) ahead of a meeting of Finance Ministers in Brussels next week. In an open letter to European leaders, the financiers argue the FTT will reduce financial instability and raise significant additional government revenue.
One year on from the Panama Papers scandal and our political leaders are still not standing up to tax havens.
Oxfam dismissed claims by the government of Bermuda that there are serial errors in the agency's report on the world’s worst tax havens today.
A report by the Greens/European Free Alliance reveals that Inditex, owners of the global fashion retailer Zara, avoided paying €585 million in taxes in Europe between 2011 and 2014.
The OECD's tax data shows that more and more governments are relying on taxes that fall hardest on the poorest in society while letting big business and wealthy individuals off the hook.
The guilty verdicts for two defendants in the #LuxLeaks whistleblowers trial means that tax dodgers will be emboldened.
The package of measures announced by governments attending the anti-corruption summit in London today will not stop tax cheats, said Oxfam. Politicians from over 40 countries, along with World Bank and IMF representatives, attended the conference.
Oxfam International Executive Director, Winnie Byanyima, will use the WEF Africa meeting in Kigali, Rwanda this week to call for a radical overhaul in the way African countries manage the income from natural resources, an end to tax havens and the use of progressive taxation to fight inequality.