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G20  countries to support a “new global deal to tax the world’s ultra-rich individuals” in an open letter published today. Ensuring the ultra-rich pay their fair share “would reduce inequality and raise trillions of dollars necessary for investments in industrial policy and a just transition.”

Today, European energy ministers agreed on a package of emergency measures to curb the surge in energy prices. The package includes two measures to capture extraordinary profits from energy and fossil fuel companies. This follows the European Commission’s proposal on 14 September.   

A staggering new poll has revealed that support for higher taxes on wealth is popular with dollar millionaires from across G20 countries. It comes as 260 millionaires and billionaires have signed a new letter demanding world leaders increase their taxes, to coincide with the World Economic Forum in Davos, Switzerland. The polling is part of the “Proud to Pay More” report, published alongside the letter, which profiles some of the world’s wealthiest people on why they support higher taxes on themselves.

The G7 must pursue windfall taxes on excess corporate profits including from those making huge returns from surging food and energy prices. The revenues can be used to fund an end to global hunger and to tackle climate change, says Oxfam.

722 of the world’s biggest corporations together raked in over $1 trillion in windfall profits each year for the past two years amid soaring prices and interest rates, while billions of people are having to cut back or go hungry. 

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.

Oxfam is pleased that several multinational companies  attended a hearing in front of the European Parliament’s TAXE committee on Monday. The firms had initially refused to do so.Oxfam’s EU policy advisor for inequality and taxation, Aurore Chardonnet, said: “Companies decided to show up thanks to growing public and political pressure. This indicates they are starting to realize they will no longer get away with secretive tax deals and that transparency in business is the way forward. Opinion polls show that the vast majority of European citizens are in favor of tougher rules…

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, ‘…

This briefing explores some of the solutions for fighting corporate tax avoidance that the European Union should present in 2015, and explains why it is important to adopt them as soon as possible.

The package of measures announced by governments attending the anti-corruption summit in London today will not stop tax cheats, said Oxfam. Politicians from over 40 countries, along with World Bank and IMF representatives, attended the conference.