According to Oxfam’s new report, “An Economy for the 99%
”, the gap between rich and poor is far greater than had been feared. The report details how big business and the super-rich are fuelling the inequality crisis by dodging taxes, driving down wages and using their power to influence politics. It argues that the very design of our economies and the principles of our economics have taken us to this unsustainable and unjust point, and that our economy must start working for all people. Accountable and visionary governments, businesses that work in the interests of workers and producers, a valued environment, women’s rights and a strong system of fair taxation, are central to this more human economy.
Information Exchange Needs to Go Beyond Tax
This guest blog by Tax Justice Network (TJN) is a summary and discussion of some of the findings of their new report
. TJN sent a survey to more than 100 jurisdictions asking for their views on how to improve the new Automatic exchange of information (AEOI) system. AEOI is one of the hottest topics in the fight against tax evasion, and while it has been generally welcomed by TJN, they warn that many loopholes exist, especially those which prevent access to information by developing countries. A key finding of the report was that, of the countries that responded, 83% said they would be in favour of sharing tax related data to help tackle offences like money laundering and corruption.