Pressure groups put in plea for G20 action on tax evasion
As yet another corporate tax avoidance story hits the headlines – Vodaphone will not be liable for tax in Britain following the sale of its £84bn stake in Verizon – a new briefing document endorsed by 34 charities and NGOs warns that governments’ attempts to curb the epidemic of tax evasion and avoidance will only succeed if politicians stand up to lobbying by the powerful companies and individuals who benefit hugely from the status quo.
The new briefing argues that governments should explore a range of possible ways to make multinationals pay their fair share.
James Henry, chair of the Global Alliance for Tax Justice, said: "The G20 and other governments, as well as the OECD, should explore credible alternatives to the existing rules. At present, despite its good intentions, the OECD seems to be trying to save an international corporate tax system which is fundamentally flawed."
The G20 leaders meet later this week in St Petersburg.