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The Asia-Pacific region was a model for ‘growing with equity’ in the 1970s and 1980s. However an economic take-off and market-oriented reforms in recent years has been accompanied by wealth gaps between rich and poor. This report suggests a course for the region’s economies to be defined by inclusive growth and shared prosperity.

Today, EU finance ministers again failed to agree on an EU minimum tax for multinational companies. This follows a deal struck at the international level to implement a global minimum tax. 

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.

During the two days of the G8 Summit, which starts today, $2.2 billion in illicit flows will have hemorrhaged from developing countries into tax havens and land one and a half times the size of Manhattan sold off to foreign investors.

RB, the multinational company behind global household brands such as Dettol and Vanish, has today backed a public campaign for tougher tax laws after an Oxfam investigation suggested that poor countries are losing valuable revenue needed to tackle poverty due to its tax practices. 

If G20 nations were hit as hard by corporate tax dodging as Africa, they’d have a $1.2 trillion hole in their budgets.

Oxfam harshly criticized the United States, the United Arab Emirates, Panama and other countries for undermining a landmark global initiative to tackle corporate tax dodging unveiled today.

It’s good to see the Commission continue their crackdown on tax avoidance by Europe’s largest companies, but actual reforms towards more tax transparency are needed, Oxfam said in reaction to a decision by the European Commission that declared illegal a tax deal of Luxembourg with the French company Engie.

In reaction to European Commission proposals related to corporate tax, released on 22 December 2021, Chiara Putaturo, Oxfam’s EU Tax expert, said: “After almost two years into the global COVID-19 pandemic, that has increased inequality across Europe and poured billions of taxpayers' money into keeping businesses afloat, it’s high time that the European Commission proposes to make big companies pay more taxes."

EU finance ministers failed to agree on a ‘digital services tax’ that would ensure big tech companies pay a minimum level of tax at a meeting today in Brussels. Instead, France and Germany have presented a watered-down new proposal to only tax online advertisements.