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Under this new proposal, companies’ profits and their ability to shift them offshore will barely be affected and consequently developing countries will only see a very small increase in their corporate tax revenues. 

‘Big Chocolate’ is booking huge profits while failing to pay prices that support a living income for cocoa farmers in Ghana, reveals new analysis by Oxfam today ahead of World Fair Trade Day (13 May). 

A staggering new poll has revealed that support for higher taxes on wealth is popular with dollar millionaires from across G20 countries. It comes as 260 millionaires and billionaires have signed a new letter demanding world leaders increase their taxes, to coincide with the World Economic Forum in Davos, Switzerland. The polling is part of the “Proud to Pay More” report, published alongside the letter, which profiles some of the world’s wealthiest people on why they support higher taxes on themselves.

Responding to the publication of the Fiscal Monitor by the International Monetary Fund today, Susana Ruiz, Oxfam International's Tax Policy Lead, said: “Oxfam strongly welcomes the IMF’s call for progressive and emergency taxes to fund the recovery from the COVID-19 crisis, including taxing excess corporate profits and top income levels.

COVID-19 has pushed millions into poverty in East Africa, and worsened inequality. However, building back during and after the pandemic offers East African governments a once-in-a-generation opportunity to do what their citizens want: make their economic systems fairer by increasing taxes on wealthy and large corporations, boost public spending, and improving workers’ rights.

In advance of the UNSC Briefing on the crisis in Tigray, Oxfam in Ethiopia’s Country Director Gezahegn Kebede Gebrehana, said: “Days after the unilateral ceasefire was announced and as communities and global leaders grapple with the new context, millions of people across Tigray and surrounding areas remain in crisis. Even with the ceasefire, many vulnerable people are left without protection and resources, and need is only expected to grow."

In response to the outcome of COP28, Oxfam International’s Climate Change Policy Lead Nafkote Dabi said: “Everyone fighting against the global climate crisis has little to celebrate from this disappointing COP28. Its final outcome is grossly inadequate. Oil, coal and gas won again, but they had to struggle harder to do so and their era is nearing its end."   

Governments and aid agencies have to tackle the politics and power at the heart of the increasing effects of climate change, rising inequality and people’s vulnerability to disasters according to a new report published today by international agency Oxfam.

We need to transform our economies to deliver universal health, education and other public services. To make this possible, the richest people and corporations should pay their fair share of tax. This will drive a dramatic reduction in the gap between rich and poor and between women and men.

Oxfam presents new evidence that the gap between rich and poor is growing ever wider and is undermining poverty eradication. This report delves into the causes of the inequality crisis and looks at the concrete solutions that can overcome it.