corporate tax dodging
There is a huge gap between the super-rich and the rest of the world population that traps millions in poverty, fracturing our societies and undermining democracy. It leaves more people living in fear and fewer in hope. But how big the inequality gap is it? Check it by the numbers and take action.
Collecting tax is one of the key means by which governments are able to address poverty. But big business is dodging tax on an industrial scale. This report exposes the world’s worst corporate tax havens and calls on governments to work together to put a stop to this race to the bottom.
The Netherlands, Ireland, Luxembourg and Cyprus are among the world’s 15 worst corporate tax havens, according to new Oxfam research published today. The report ‘Tax Battles’ reveals a global race to the bottom on corporate tax that is starving countries out of billions of dollars needed to tackle poverty and inequality.
The true scandal is that most of the schemes used by BASF are legal, and a consequence of fierce tax competition between EU member states, says Oxfam in reaction to the Greens/EFA group report on aggressive tax planning practices of German chemical giant BASF.
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.
It is a good sign that the European Commission pursues its efforts to put an end to damaging tax deals despite the criticism it faced following the Apple ruling, Oxfam says in reaction to a new state aid investigation into French energy company Engie.
In response to the latest Panama Papers leak that exposes how Africa is being deprived billions of dollars in natural resource revenues due to offshore deals, Winnie Byanyima, Executive Director of Oxfam International, said governments are just not doing enough to stop illicit flows, tax evasion and tax avoidance.
Response to the announcement that 82 countries, including many developing countries, have signed up to implement the OECD’s BEPS agreement to tackle corporate tax avoidance.
The guilty verdicts for two defendants in the #LuxLeaks whistleblowers trial means that tax dodgers will be emboldened.
EU governments are unwilling to tackle large-scale tax avoidance of multinational companies, Oxfam says in reaction to a new directive formally approved today.