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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.

Within hours of Oxfam International’s Executive Director Winnie Byanyima declaring at the UNGA that the glory days for tax havens are over, the International Consortium of Investigative Journalists has released a damning exposé pointing the finger at the Bahamas for tax abuse. 

Today’s report from UBS and PwC revealed that the global billionaires club gained 50 more members in 2015 - at a time when 767 million people are living in extreme poverty. This huge gap between rich and poor is bad news for economic growth, the fight against poverty, social stability and democracy.  

The World Bank is forecasting that, for the first time ever, the number of people living in extreme poverty will fall under 10% of the world's population, to around 702 million people.

A 5-point plan to stop big corporations cheating poor countries out of billions of dollars in tax revenue, was published by Oxfam today in the wake of the Mauritius Leaks.

Today’s World Wealth Report from Capgemini shows that times have never been better for the world’s wealthiest - since 2009 more than 4.5 million new millionaires have been created, rising to a total of 15.4 million millionaires across the world last year. Yet while the wealthy prosper, 702 million people living in extreme poverty are being left behind.

Research published by the International Consortium of Investigative Journalists today shows that multinational corporations are using the tax haven of Mauritius to avoid paying millions of dollars of tax across Africa.

Eighty two percent of the wealth generated last year went to the richest one percent of the global population, while the 3.7 billion people who make up the poorest half of the world saw no increase in their wealth, according to a new Oxfam report released today.

Oxfam today gave a cautious welcome to the OECD's plans to open up its tax reform process to developing countries but said more fundamental global tax reforms, beyond BEPS, are still needed to stop corporate tax scandals. 

Dangerous, poorly paid work for the many is supporting extreme wealth for the few. Women are in the worst work, and almost all the super-rich are men. Governments must create a more equal society by prioritizing ordinary workers and small-scale food producers instead of the rich and powerful.