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The Dutch Development Finance Company (FMO) and Finland’s Finnfund, two of the development banks backing the Agua Zarca hydroelectric project in Honduras, yesterday announced they would seek an exit to their involvement in the project. Today’s announcements are important in bringing us one step closer to finally shutting down the tainted Agua Zarca project.
The publication of the Panama Papers database is a significant blow against tax dodgers but the public should not have to rely on whistleblowers to expose tax cheats, said Oxfam today. Oxfam is calling on politicians gathering in London for the Anti-Corruption Summit on 12 May to end the secrecy that enables companies and wealthy individuals to avoid paying their fair share of tax.
The return of South Sudan’s opposition leader, Riek Machar, to Juba is a positive step towards the formation of a Transitional Government of National Unity that could bring an end to the country's dire humanitarian crisis.
All charges against Antoine Deltour, the #LuxLeaks whistleblower who exposed secret deals that enabled multinational companies to avoid paying billions of dollars in tax, should be dropped, s
This global tax platform represents a step in a long road towards building a fairer and more transparent global tax system. The platform must be able to deliver tangible results and combat inequality, but most importantly, it must give the poorest countries a voice.
Oxfam has deployed a three-person expert assessment team from the region to determine how it will respond to the major earthquake that struck on the evening of 16 April.
“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.
Development aid has reached an all-time high, but with 900 million people still living in extreme poverty much more needs to be done, says Oxfam.
“In the Inspection Panel's findings, the Bank is still repeatedly failing to take the most basic steps needed to avoid harm. Steps like counting how many people are affected, or making information available in local languages are still neglected," said Kate Geary, Oxfam's land rights expert.