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Oxfam strongly welcomes today’s leaked documents on Luxembourg’s tax haven operations revealed by the International Consortium of Investigative Journalists (ICIJ), showing that Luxembourg granted favorable tax treatment to many multinational corporations in order for them to dodge taxes by routing their profits through the country.

Diplomats at the United Nations’ talks on the future Arms Trade Treaty have made serious progress this week with a growing number of key countries bringing their support to the process. The week was also marked by pro-ATT statements from global investors’ with over US$ 1.2 trillion in assets.

The European Parliament voted today on a resolution on the Arms Trade Treaty (ATT) that will be negotiated at a major UN conference in New York on 2 – 27 July.

In a new report released today, Oxfam exposes the weaknesses in New Zealand company law that enabled unscrupulous international arms brokers to drag the country into the deadly business of the illegal arms trade, highlighting the urgent need for a global Arms Trade Treaty.

The Viktor Bout case shows need for global rules on arms trading – a global arms trade treaty.

Eight of ten Europeans say laws need to change to clamp down on the use of tax havens, a poll published on Tuesday shows.

Global sales of ammunition are worth more than $4 billion and are growing at a faster rate than trade in guns, yet there is virtually no regulation in place to control where the bullets end up.

More than $2.2 billion worth of arms and ammunition have been imported since 2000 by countries operating under arms embargoes, according to new figures released today by international humanitarian agency Oxfam.

The true scandal is that most of the schemes used by BASF are legal, and a consequence of fierce tax competition between EU member states, says Oxfam in reaction to the Greens/EFA group report on aggressive tax planning practices of German chemical giant BASF.

The Control Arms alliance expressed some satisfaction at progress made at the preliminary Arms Trade Treaty negotiations but urged governments to maximize time before the next meeting in 2011 to develop a draft Treaty further.