end tax havens

Collecting tax is one of the key means by which governments are able to address poverty. But big business is dodging tax on an industrial scale. This report exposes the world’s worst corporate tax havens and calls on governments to work together to put a stop to this race to the bottom.

The Netherlands, Ireland, Luxembourg and Cyprus are among the world’s 15 worst corporate tax havens, according to new Oxfam research published today. The report ‘Tax Battles’ reveals a global race to the bottom on corporate tax that is starving countries out of billions of dollars needed to tackle poverty and inequality.

A report by the Greens/European Free Alliance reveals that Inditex, owners of the global fashion retailer Zara, avoided paying €585 million in taxes in Europe between 2011 and 2014.

The OECD's tax data shows that more and more governments are relying on taxes that fall hardest on the poorest in society while letting big business and wealthy individuals off the hook.

The Credit Suisse Global Wealth Report shows once again that economic inequality remains at shockingly high levels.  The richest 1 percent now has as much wealth as the rest of the world combined.

Oxfam's verdict on the World Bank and International Monetary Fund Annual Meetings. 

Within hours of Oxfam International’s Executive Director Winnie Byanyima declaring at the UNGA that the glory days for tax havens are over, the International Consortium of Investigative Journalists has released a damning exposé pointing the finger at the Bahamas for tax abuse. 

Governments tried to further water down an already weak legislative proposal, Oxfam said in response to the EU finance ministers’ failure to agree on new measures against corporate tax dodging.

The package of measures announced by governments attending the anti-corruption summit in London today will not stop tax cheats, said Oxfam. Politicians from over 40 countries, along with World Bank and IMF representatives, attended the conference.

Oxfam International Executive Director, Winnie Byanyima, will use the WEF Africa meeting in Kigali, Rwanda this week to call for a radical overhaul in the way African countries manage the income from natural resources, an end to tax havens and the use of progressive taxation to fight inequality.