News Hour: Today the European Parliament voted in favor of specific recommendations aimed at stopping corporate tax avoidance across the European Union. The plenary adopted the report of its special committee on tax rulings, which had been created after the Luxleaks scandal. Oxfam welcomes the parliament’s broad consensus on ending… – Continue reading
“India’s concerns are known…there can be no compromise on the issue of terror…India’s longstanding position is that there is no good or bad terror and all forms of terrorism are unacceptable and must be fought by the global community as well as each and every country”, the source told reporters…. – Continue reading
* G20 leaders say they will deliver on vow to lift global growth * G20 promise not to surprise markets with policy decisions * World leaders agree to tackle tax dodgers, pledge to cooperate on migrants (Adds details, background) BELEK, Turkey, Nov 15 The heads of the world’s 20 largest… – Continue reading
G20 countries spend over 15 times subsidizing the coal and oil industry than developed countries provide in adaptation finance to poor and vulnerable countries, said Oxfam today, ahead of the G20 Summit in Antalya, Turkey. Oxfam also urged the G20 leaders to tackle fundamental reforms to ensure the benefits of… – Continue reading
Ahead of a G20 meeting in Turkey this weekend that will tackle, among other issues, the GDP lost to global tax havens, the anti-poverty organization Oxfam is warning that it’s not just poor countries that suffer when corporations evade taxes. Julie Delahanty, Oxfam Canada’s executive director, says the only people… – Continue reading
Tax: Luxembourg among countries helping US firms cut their tax bills by more than a quarter, campaigners say. The abuse of holding company structures in the Grand Duchy, and fiscal regimes in several other countries, allows American firms to avoid paying billions of dollars in corporate profit taxes, two NGOs… – Continue reading
LONDON – Both developed countries and developing countries are loosing out on tax revenues due to a continued lack of progress in fighting international tax avoidance. Large multinational businesses are still using international tax rules to avoid paying taxes in the countries where they raise profits, according to information contained… – Continue reading
“In 2013 the OECD, supported by the G20, promised to bring an end to international corporate tax avoidance which costs countries around the world billions in tax revenues each year. However, with the recently announced actions against corporate tax dodging, G20 and OECD countries have failed to live up to… – Continue reading
Headline: G20 among biggest losers in large-scale tax abuse – but poor countries relatively hardest hit G20 countries are the biggest losers when US multinationals avoid paying taxes where they do business. This is the main finding of a new report on the global tax system, ‘Still Broken,’ released by… – Continue reading
First it was the scourge of public sector corruption, until now the mortifying spectacle of South Africa’s post-apartheid transition. Now, with the ground shifting beneath the world’s sclerotic economy – and the past few years have produced more tremors than ever in the 21 years of democracy – it’s a… – Continue reading
Tax systems within the European Union remain largely secretive and opaque despite leaders’ claims that measures are underway to fix loopholes, the European Network on Debt and Development (Eurodad) has said. The coalition of 46 NGOs from 20 European countries including Oxfam, Save the Children and ActionAid said that, while… – Continue reading
The African Union Advisory Board on Corruption (AUABC) recently requested major multinationals operating in Africa to be more open about the taxes and royalties they pay governments to improve transparency and accountability. Although a reasonable request, this is a tall order when you consider that often it is the governments… – Continue reading
Companies who have been accused of shifting profits to low-tax jurisdictions or those seeking tax shelters need to beware—these practices are coming under fire, and could possibly come to an end. The Organization for Economic Cooperation and Development (OECD) just released details of their far-reaching plan that would require companies… – Continue reading
The BEPS Project involves input from the 34 member countries of the OECD, all G20 members, and more than 40 developing countries. The objective of the BEPS Project is to close gaps in international tax rules, effectively eliminating or substantially reducing BEPS; and to secure government revenues by ensuring that… – Continue reading
We are entering a new world of tax revenue wars, and no one can say who will emerge as the victor. All we know is that there will be tension over the next five years as governments seek to implement the global plan to end to tax havens from Luxembourg… – Continue reading
Ministers of G20 countries must deliver on their climate finance promises and support a second wave of attacks on corporate tax cheats if they want to be successful in their Lima meeting, Oxfam said on Wednesday. “Corporate tax dodgers deprive Latin America of half of its potential tax revenue. This… – Continue reading
Gabriel Zucman, one of 3 French economists who in recent times have published extensive research on wealth and equality, in a book, ‘The Hidden Wealth of Nations: The Scourge of Tax Havens,’ published this month, estimates that 8% of the world’s financial wealth — some US$7.6tn — is hidden in… – Continue reading
Government must make good on its vows, says Jamie Livingstone In less than two weeks, leaders from 193 states will meet at the United Nations in New York to formally adopt, in effect, a new plan to fight extreme poverty, tackle inequality and end hunger. The Sustainable Development Goals (SDGs)… – Continue reading
THE African continent has been under the surveillance for Illicit Financial Flows (IFF) for quite some time now. The report prepared by the former South African President, Mr Thabo Mbeki, who chaired the AU High Level Panel on IFF in early February 2015, clearly states that the multinational companies (MNCs)… – Continue reading
International aid agency Oxfam says it warmly welcomes the European Parliament’s decision to vote in favor of legislation that obliges large companies across all sectors to publicly declare their earnings and taxes in locations they operate. The legislation is part of the vote on the Shareholder’s Rights Directive. “By requiring… – Continue reading
Oxfam, a multinational organisation, says Africa is haemorrhaging billions of dollars because multinational companies are cheating African governments out of vital revenues by not paying their fair share in taxes. This is contained in a statement issued by the organisation, interested in combating poverty, and made available to newsmen in… – Continue reading
A new report by Oxfam has revealed that international companies cheated Africa out of $11 billion in 2010. The report titled “Africa: Rising for the Few” released yesterday revealed that the loss is equivalent to more than six times the amount needed to deliver universal primary healthcare in the Ebola-affected… – Continue reading
Oxfam based its calculation of the tax revenue Africa loses on a UN-backed study released in April. WASHINGTON – Multinational companies deprive African governments of $11 billion in taxes each year, and G7 world leaders should set up a new global body to regulate corporate taxation, Oxfam International said on… – Continue reading
