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More than 200 million people will be trapped unnecessarily in extreme poverty - despite world leaders’ pledge to end it - unless action to tackle economic inequality is accelerated. 

G20 finance ministers in Lima today endorsed international tax reforms for tackling tax dodging launched by the Organization for Economic Cooperation and Development (OECD). While the measures are a tax milestone, they poorly represent the critical needs of developing countries, Oxfam warned today.

In a puzzling move, inequality was not on the agenda at the International Monetary Fund’s Press Briefing in the Peruvian capital today, while World Bank President Jim Kim said TPP could boost growth.

Fighting inequality is not just an issue of fairness but an economic necessity. That’s not Oxfam speaking, but the International Monetary Fund today. 

Runaway inequality has created a world where 62 people own as much wealth as the poorest half of the world’s population – a figure that has fallen from 388 just five years ago, according to an Oxfam report published today ahead of the annual gathering of the world’s financial and political elites in Davos.

EU finance ministers have decided today to remove eight countries from the EU’s blacklist for tax havens, rushing to take countries off the blacklist without it being clear what they have actually committed to improve.

The international tax system is broken and unfair.  July’s Finance for Development Conference in Addis is the perfect time to ensure all parties agree to tackle this problem.

At the meeting of the European Council in Tallinn today France, Germany, Italy and Spain called for an agreement on new measures to tax tech giants, like Google and Amazon. Currently, disparate tax laws allow large companies to pay disproportionately low effective tax rates in the EU.

Governments must take five immediate steps to stop corporations and the super-rich cheating poor countries out of over $170 billion in tax revenues every year, said Oxfam today in the wake of the Paradise Papers leak.Oxfam’s new briefing paper, ‘…

Under this new proposal, companies’ profits and their ability to shift them offshore will barely be affected and consequently developing countries will only see a very small increase in their corporate tax revenues.