corporate tax

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. 

Today, the European Parliament voted through a non-binding report on the European Commission’s proposal to implement the deal on a global minimum tax at the EU level. EU Finance Ministers are expected to vote on a final agreement next Tuesday, 24 May. 

Today, EU negotiators struck an agreement on the public Country-by-Country Reporting proposal. The deal means companies with operations in the EU will be required to publish information on how much tax they pay in EU countries and non-EU countries that are on the EU’s black or grey list. Information on other non-EU countries will only be available on an aggregated global basis. 

The European Parliament voted on the report "Own resources: a fresh start for the EU Finances, a new start for Europe". The ONE Campaign, Oxfam, ActionAid and Global Citizen are campaigning for any new own resources to be used to increase the EU’s external action budget to deliver on the EU’s promises on global development and climate action.

Today the European Parliament  Committee on Budgets voted on the Committee's own initiative report on new own resources to finance the EU budget and EU political priorities.

Rich and poor countries alike have exacerbated an explosion of economic inequality since the outbreak of the pandemic from 2020, reveals new research by Oxfam and Development Finance International (DFI). 

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.

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."

In response to the OECD’s tax deal announced today, Oxfam’s Tax Policy Lead Susana Ruiz said: “Today's tax deal was meant to end tax havens for good. Instead it was written by them." 

On the eve of technical talks to thrash out the final details of the OECD tax deal ahead of the G20 Finance Ministers meeting next week, Oxfam is calling for world leaders to bring fairness and ambition back to the table and deliver a tax plan that won’t leave developing countries with next to nothing.