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Oxfam today gave a cautious welcome to the OECD's plans to open up its tax reform process to developing countries but said more fundamental global tax reforms, beyond BEPS, are still needed to stop corporate tax scandals.
The slight decrease in development aid spending in 2017 is bad news for the fight to end poverty and reduce inequalities, said Oxfam today in response to the publication of new aid figures by the Organisation for Economic Cooperation and Development (OECD).
At a meeting at the OECD in Paris on the future of development aid, governments of the world’s richest countries promoted the use of development aid to support private investment in poor countries, but failed to focus on the rules and safeguards needed to make sure it supports the people most in need.
According to the Paris-based Organization for Economic Co-operation and Development, just one country fails to comply with international transparency standards, which Oxfam strongly disputes.
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.
Rich countries are exaggerating how much they are spending to tackle poverty and inequality in poor countries.
The OECD's tax data shows that more and more governments are relying on taxes that fall hardest on the poorest in society while letting big business and wealthy individuals off the hook.