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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 50 biggest US companies, including global brands Pfizer, Goldman Sachs, GE, Chevron, Wal-Mart, and Apple, stashed $1.6 trillion offshore in 2015 – $200 billion more than the previous year - according to a new report by Oxfam.
G20 Finance Ministers must support more fundamental reforms to the global tax system as part of their plans to deliver sustainable economic growth said Oxfam today.
Runaway inequality has created a world where 62 people own as much wealth as the poorest half of the world’s population – a figure that has fallen from 388 just five years ago, according to an Oxfam report published today ahead of the annual gathering of the world’s financial and political elites in Davos.
Oxfam welcomes the investigation of tax deals major companies strike with EU member states, but tax reform is key to end harmful and unfair tax practices.
With the adoption of the TAXE report, the European Parliament voted in favor of specific recommendations aimed at stopping corporate tax avoidance across the European Union.
Eight of ten Europeans say laws need to change to clamp down on the use of tax havens, a poll published on Tuesday shows.
Oxfam welcomes the Addis Tax Initiative and its ambition to help developing countries strengthen their tax administrations. Tax revenue provides vital finance for governments to reduce poverty and inequality.
The European Parliament has voted in favor of legislation - as part of the vote on the Shareholder's Rights Directive - obliging large companies across all sectors to publicly declare their earnings and taxes in the locations they operate – a move Oxfam welcomes.