BEPS

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. 

On the eve of technical talks to thrash out the final details of the OECD tax deal ahead of the G20 Finance Ministers meeting next week, Oxfam is calling for world leaders to bring fairness and ambition back to the table and deliver a tax plan that won’t leave developing countries with next to nothing. 

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. 

Response to the announcement that 82 countries, including many developing countries, have signed up to implement the OECD’s BEPS agreement to tackle corporate tax avoidance.

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.

The gap between where companies pay tax and where they really do their business is huge, as shown by new research described in this briefing.

G20 finance ministers in Lima today endorsed international tax reforms for tackling tax dodging launched by the Organization for Economic Cooperation and Development (OECD). While the measures are a tax milestone, they poorly represent the critical needs of developing countries, Oxfam warned today.

Africa was cheated out of US$11 billion in 2010 through just one of the tricks used by multinational companies to reduce tax bills, according to new Oxfam report, ‘Africa: Rising for the few,’ released today.

More developing countries are set to become involved in reforming the global tax system in an effort to ensure that multinational corporations are taxed where their real economic activities take place.

The gap between the rich and the rest is extreme and growing. G20 nations are not immune.