A Quote by Winnie Byanyima
African countries lose the most from tax dodging. African governments must, therefore, do more to push for a full reform of the global tax system and demand action from countries, such as the U.K., whose financial centres sit at the heart of the global network of tax havens.
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It isn't only rich countries that suffer from the effects of tax havens. Developing countries also lose billions of dollars in tax revenues due each year because wealthy individuals and some companies use tax havens to move assets and income offshore.
African countries lose billions every year because of tax dodging by big corporations and wealthy individuals. They lose billions more from overly generous tax incentives in a misguided belief that this is the only way to attract foreign investment.
Why do tax havens exist? Because rich countries allow them to. If the U.S. came down on tax havens in the same way they come down on countries that trade with Iran and Cuba, we'd have no tax havens in the world.
I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.
Global governments should start seriously talking about the creation of a World Tax Authority with the mission to ensure that tax systems will deliver for the public interests in all countries.
Crucially, African governments must ensure they prioritize the eradication of tax evasion and tax avoidance.
Oxfam believes that any global talks to reform tax rules must include all countries, including the poorest.
Developing countries are losing significant tax revenues through corporate tax dodging.
If corporations and rich people who made fortunes out of us during the boom are not paying their fair share then reform the tax system and close down the tax havens.
If you have to change the law to get more money, that's a tax increase, and Americans for Tax Reform supports all efforts of tax reform, getting rid of deductions or credits, or something that's misclassified, as long as you at the same time reduce rates so that it's not a hidden tax.
A global tax body would give all countries - not just the rich and powerful - an equal say in how the global rules on taxation are designed.
Our international banking system allows banks to accept funds gained from tax evasion and other crimes and thereby facilitates and encourages embezzlement by public officials, especially in developing countries, as well as tax evasion and tax avoidance by multinational corporations.
The Value-Added Tax, a sales tax that applies at every level of business transactions, is an easy tax for governments to collect, and a hard tax to evade.
Tax reform means, "Don't tax you, don't tax me. Tax that fellow behind the tree."
Tax reform means, 'Don't tax you, don't tax me. Tax that fellow behind the tree.'
In 1990, about 1 percent of American corporate profits were taken in tax havens like the Cayman Islands. By 2002, it was up to 17 percent, and it'll be up to 20-25 percent very quickly. It's a major problem. Fundamentally, we have a tax system designed for a national, industrial, wage economy, which is what we had in the early 1900s. We now live in a global, asset-based, services world. And we need to have a tax system that follows the economic order or it's going to interfere with economic growth, it's going to reduce people's incomes, and it's going to damage the US.
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