Scandals involving the super-rich robbing the world’s poorest of much-needed tax revenues, like those revealed in the Paradise Papers leak, can be avoided if the Australian Government and others take five immediate steps towards tax reform, Oxfam Australia said today. International tax reforms have clearly failed, with new estimates suggesting that multinational companies artificially shift […]
Tag: tax havens
More than $4 billion in Australian tax is being shifted by Australian-based multinationals into the world’s 15 worst corporate tax havens each year, depriving public coffers of revenue that could be spent on schools, hospitals and tackling poverty, new Oxfam research has revealed. Oxfam has named the worst tax havens for encouraging multinational corporate tax […]
Responding to new data released today by the Australian Tax Office (ATO), Oxfam Australia Chief Executive Dr Helen Szoke said: “The ATO data revealing that 36 per cent of large companies paid no tax at all in the 2014-15 financial year is damning evidence of the need for tougher action on corporate tax avoidance. “While […]
Responding to the new revelations of the Panama Papers (https://panamapapers.icij.org), Oxfam Australia Chief Executive Dr Helen Szoke said:
“The latest Panama Papers revelations expose rampant tax dodging that is allowing multinational companies to avoid paying their dues, particularly how shadow companies are shifting billions in revenue derived from highly lucrative mining and extractives operations across Africa,” Dr Szoke said.
Fifty-one of the 68 companies that were lent money by the World Bank’s private lending arm in 2015 to finance investments in sub-Saharan Africa use tax havens, Oxfam revealed today.
The gap between the richest and the rest has widened dramatically in the past year with 62 people now owning as much wealth as 3.6 billion of the world’s poorest – and Australia has not escaped the trend, according to an Oxfam report published today.