Responding to the publication of a new IMF report on corporate tax today, Susana Ruiz, Oxfam’s Tax Expert said:
“The IMF report confirms what Oxfam has being saying for years – that the international tax system is broken and needs fundamental reform.
“This report should trigger a seismic shift in the international communities approach to corporate tax abuse. It recognises that corporations are paying less than they were before the financial crisis, that simply plugging holes in the current tax system is not enough, and that deeper reforms are needed, including greater transparency and an end to harmful tax competition.“The baton now passes to the global tax community currently led by the Organisation for Economic Co-operation and Development. Its new round of tax negotiations must kick start the fundamental reforms that are needed and ensure all countries – including developing countries who come off worse under the current tax system – have a real say in the outcome.”
“Governments must ensure everyone pays their fair share of tax if they are going to raise the funds they need to deliver on their promises of healthcare and education for all.