Tax reform is a major step in addressing poverty and injustice and achieving the Millennium Development Goals, according to Christian Aid’s new report, ‘Poverty Over: We’re All In This Together’.
The report estimates that ‘by concealing the true extent of their taxable profits, often in secrecy jurisdictions (tax havens) offshore, [multinational businesses and others] cost developing countries US$160bn a year in lost revenue’.
Christian Aid urges international standards of tax transparency to ‘oblige companies to declare the profits made and taxes paid in every country where they operate’ and an automatic exchange of tax information between jurisdictions to counter secrecy.
See http://www.christianaid.org.uk/resources/policy/poverty-over.aspx.