BY Ian Dunn | July 25 | comments icon 0 COMMENTS     print icon print


Latest plan to combat global corporate tax dodging falls short

The Scottish Catholic International Aid Fund (SCIAF) says the latest international plan does not meet the IF campaign requests put to the G8 summit

SCIAF has warned an new international plan to combat tax dodging by multi-national companies does not go far enough in spite of G8 summit lobbying.

The new Organisation for Economic Co-operation and Development (OECD) Action Plan against multinationals’ tax dodging was presented to G20 finance ministers’ meeting in Moscow last weekend.

Patrick Grady, SCIAF’s advocacy manager, said the world’s poorest had to be at the heart of any equitable tax scheme.

“A fair and just tax system is an important building-block in ensuring countries have predictable and sound sources of finance for development,” he said. “Yet it’s estimated that every minute, over £190,000 in tax will be dodged by big companies operating in the world’s poorest countries—money that could be used to fight extreme poverty and hunger. We support efforts already under way to tackle tax avoidance but more action is needed if big businesses are to be truly held to account.”

Mr Grady also said that world leaders need to keep their promising about making taxation fairer.

“Tax was a key issue at the recent G8 Summit in Enniskillen in Northern Ireland, where leaders agreed to put together a register of who owns all companies, including the phantom firms set up to hide taxes owed to some of the world’s poorest countries,” he said. “However, currently this register will not be public.”

“SCIAF is supporting the IF campaign’s call for Prime Minister David Cameron to ensure full disclosure of the register. It’s time for justice in the tax system and an end to the dodgy dealings of big business.”

SCIAF is an agency of the Bishops’ Conference of Scotland.







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