TaxAdministrationCharity demands G20 reform tax in developing countries

Charity demands G20 reform tax in developing countries

Christian Aid claims big corporates disguise profits in developing countries

The G20 meeting in London today has been called upon to introduce reforms to
halt tax avoidance by big corporates in developing countries.

Christian Aid claims that the developing world loses up to $160bn (£98bn) as
a result of companies ‘disguising’ profits to lower tax liabilities.

The G20 finance ministers meeting today will discuss a report on progress
made in making companies more transparent on tax.

Dr. David McNair, senior economic justice adviser at Christian Aid said: “In
the past we have been dismayed at the OECD’s lack of ambition, and we don’t
expect any major breakthrough. The OECD is tasked with providing technical
advice to the G20. All too often, however, it simply reflects the interests of
the world’s wealthiest nations.

“In a communiqué earlier this year G20 countries committed themselves to
proposing measures to counter tax evasion that would benefit everyone, not just
rich countries.

“As the host of this meeting Alastair Darling is in a unique position to lead
his counterparts in delivering on the undertaking that they gave. Reform is
vital. The revenues lost to developing countries at present could, if used
according to current spending patterns, save the lives of 350,000 children under
the age of five each year.”

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