The OECD’s highly anticipated proposal for reform of international tax rules will likely further intensify global inequalities and fail to curb rampant tax abuse, new analysis from the Tax Justice Netowrk reveals.
Poor nations are being robbed of revenues worth $416 billion per year by 'illicit financial flows’, money that is illegally or abusively earned, transferred or used around the world, Christian Aid has estimated.
The Crown Dependencies have set out a three year plan to table a discussion in parliament with no commitments and no details on whether they will comply with emerging international standards on beneficial ownership transparency.
For every dollar British American Tobacco paid in tax in the countries it operates in, it shifted more than half a dollar to a UK subsidiary where it paid almost no tax.
Tightening up five of Britain’s existing wealth taxes and subsidies could raise almost £7 billion a year by 2022-23 and provide a down payment on covering the £36 billion a year increase in the cost of public services by 2030.