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Responding to IMF Managing Director, Christine Lagarde’s curtain-raiser speech today, ahead of the IMF and World Bank Spring meetings, Nadia Daar, Oxfam International’s Head of Washington office, s
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.
The European Council has started to publish the commitments taken by countries to escape the EU blacklist of tax havens. Governments must now pressure all tax havens on the EU's grey list to make their commitments public, and the EU must ensure tax havens implement the reforms they have promised, or else blacklist them.
It is very good news that the European Commission seems ready to finally tackle harmful tax competition inside the European Union, Oxfam said in reaction to a report criticising seven EU member states for their aggressive tax policies. The organisation also welcomed the increased pressure on tax havens greylisted by the EU to make their reform commitments public.
EU finance ministers have decided today to remove eight countries from the EU’s blacklist for tax havens, rushing to take countries off the blacklist without it being clear what they have actually committed to improve.
This report examines the failings of the global tax system that facilitate mass tax avoidance. It looks at one example of a multinational company (MNC) that Oxfam thinks is not paying its fair share. Moreover, it calls on governments and business to implement the reforms that are needed to stop MNCs from avoiding paying their fair share of tax in the future.
EU governments are unwilling to tackle large-scale tax avoidance of multinational companies, Oxfam says in reaction to a new directive formally approved today.
Despite EU intentions to crack down on tax avoidance, the European Commission’s Anti-Tax Avoidance Package does not do what it says on the tin, warns Oxfam, and developing countries will feel the EU’s failure most.