Tag: Avoidance

The Global Tax System Is Broken. We Can’t Trust Rich Countries to Fix It.

The world is finally recognizing the harms of corporate tax avoidance. But the OECD’s solution to the problem is designed by rich countries, for rich countries. We need an alternative.

Source: The Global Tax System Is Broken. We Can’t Trust Rich Countries to Fix It.

The Pandora Papers show the line between tax avoidance and tax evasion has become so blurred we need to act against both

OECD chief Mathias Cormann has brokered a deal for a global minimum corporate tax rate. OECD (CC BY-NC 3.0 IGO) Some of what’s been uncovered in the Pandora Papers is illegal (“evasion”) but much might not be (“avoidance”, aided by anonimity). The effect is the same. Dollars that ought to have been paid in tax are withheld and used for the benefit of people who aren’t keen to admit to owning them.

Source: The Pandora Papers show the line between tax avoidance and tax evasion has become so blurred we need to act against both

How Corporations and the Wealthy Avoid Taxes (and How to Stop Them) – The New York Times How Corporations and the Wealthy Avoid Taxes (and How to Stop Them)

an estimated $8.7 trillion, 11.5 percent of the entire world’s G.D.P., is held offshore by ultrawealthy households in a handful of tax shelters, and most of it isn’t being reported to the relevant tax authorities. This is… not so legal.

These figures represent a huge loss of resources that, if collected, could be used to cut taxes on the rest of us, or spent on social programs to help people in our societies.

How Corporations and the Wealthy Avoid Taxes (and How to Stop Them) – The New York Times

Panama Papers: Mossack Fonseca leak takes Four Corners on a taxing journey into a parallel universe – ABC News (Australian Broadcasting Corporation)

Four Corners reporter Marian Willkinson reveals how hard it was to get through the front door of law firm Mossack Fonseca — the parallel world of tax havens.

Source: Panama Papers: Mossack Fonseca leak takes Four Corners on a taxing journey into a parallel universe – ABC News (Australian Broadcasting Corporation)

US corporations avoid an estimated $2 billion tax every year in Australia: report

United States corporations avoid an estimated $US1.45 billion ($2.06 billion) of tax in Australia each year by shifting their profits to low or no tax countries, research shows.

Source: US corporations avoid an estimated $2 billion tax every year in Australia: report