Countries are on course to lose nearly $5 trillion to tax havens over the next 10 years - equivalent to a year of global spending on public health. We're urging countries to vote this year end in favour of a UN tax convention to avert these huge losses.
The 2023 edition of our flagship State of Tax Justice report shows that countries are on course to lose US$4.7 trillion to tax havens over the next 10 years - that's more than the entire world spends on public health annually; and argues that countries must adopt a UN tax convention to avert the astronomical losses.
The Financial Times has confirmed that the OECD heavily lobbied to stop Australia from passing legislation that would have delivered the biggest transparency breakthrough to date on the taxes of multinational corporation.
The OECD finally addressed its role in delaying breakthrough tax transparency legislation in Australia. It’s disappointing to see the OECD come out with inaccurate claims and double down on protecting its own agenda over tax transparency. Here's our full response.
Renowned economists at ICRICT (Independent Commission for the Reform of International Corporate Taxation) have called out the IMF (International Monetary Fund) for abusing its role in debt renegotiations to force countries to adopt OECD tax rules – rules that the IMF’s own research shows would make it harder for lower income countries to raise needed tax.
Imagine if tax agencies could simply ask enablers to disclose not just the schemes they are promoting to reduce taxes for their clients, but also which taxpayers are using them. As this new guide shows, it might not be easy, but it's doable.
The Tax Justice Network depends on support from members of the public to carry on its vital work. Your donation will help us build the tools our communities and elected representatives need to stop billions in tax from being snatched from taxpayers and stashed in tax havens.