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Over 50 leading financiers have expressed their support for a European Financial Transaction Tax (FTT) ahead of a meeting of Finance Ministers in Brussels next week. In an open letter to European leaders, the financiers argue the FTT will reduce financial instability and raise significant additional government revenue.

Today the European Commission released its fourth package to combat tax evasion and tax avoidance. This corporate tax reform package notably includes a proposal to harmonize the tax base among EU 28 member states. Oxfam supports the ongoing efforts of the European Commission to reopen discussions on tax base harmonization and to push ahead in the fight against tax avoidance.

The international agency said the US and others are putting the interests of the pharmaceutical industry above the lives of people around the globe. Oxfam is calling on the UN Secretary General and world leaders to make delivering affordable medicines a priority in 2018. 

A coalition of NGOs has welcomed the European Parliament's vote to increase humanitarian and development aid in the EU budget 2018, but call on the EU to ensure aid money really goes to those who need it most.

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.

The 50 biggest US companies have more than a trillion dollars hidden offshore according to a new report published by Oxfam today. This is more than the entire GDP of countries such as Spain, Mexico or Australia.

In response to the G20 communique, Oxfam says: ‘The G20 has failed to meet the huge challenges our world faces. They continue to stumble away from taking the bold actions necessary to tackle poverty, inequality, and climate change after an uninspiring and underwhelming Summit in India this weekend.” 

Unresolved rigged tax rules and privatized development are the major drawbacks of the UN Financing for Development Conference outcome, says Oxfam.

EU governments are on the brink of agreeing a tax haven blacklist that could ensure corporate tax havens face international sanctions for the first time. This is a welcome move if the list includes objective and comprehensive criteria instead of focussing solely on opacity of tax systems, said Oxfam today.

This year’s G20 Summit will raise the stakes for the group to prove itself against growing doubts about its effectiveness – not least for people living in poverty, says Oxfam.