This week, we react to the Panama Papers leak that has revealed how scores of powerful, wealthy individuals have used tax havens to hide billions of euros. Our recently launched website, EndSecrecy.EU, lets you tweet Commissioners and urge them to let the public know where multinationals make their profits and where they pay their taxes. Plus a blog on why a regional commission should not set international public-private partnership (PPP) standards.
Eurodad reaction to Panama Papers investigation A huge cache of leaked documents, known as the Panama Papers, have revealed how scores of well-known, wealthy figures have used secretive offshore jurisdictions to hide billions of euros.
Tove Maria Ryding, Tax Justice Coordinator at Eurodad, said: ”The Panama Papers have given us another peek into the world of dirty money, fake company structures and hidden bank accounts."
Tweet the Commissioners: let the public know what multinationals pay in taxes A recently leaked European Commission draft proposal on public country by country reporting (CBCR) falls short of true tax transparency. Will the Commission make sure all multinationals would be obliged to publish info on profits and taxes in all countries? Use the website's suggested tweets to urge the EU Commissioners to act.
"#Privatisation & #PPPs often lead to job losses & reduced access to public services" @davidboys @UN_ECE #PPPForum. http://www.world-psi.org/PPPUNECE
In light of the Panama Papers leaks, Eurodad was quoted in several media outlets, including:
- in an EU Observer article calling for EU level action on public country by country reporting.
- on France 24, where Tove Ryding discussed the worrying fact that the politicians linked to the tax haven are the very people who are meant to be putting an end to these loopholes.
A new SOMO report, Big companies, low rates, focuses on a group of Dutch companies and the degree to which they have succeeded in reducing their effective tax rates. This leads to a loss in tax revenues for governments of € 3 billion per year.
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EVENTS All of the following events will take place at the IMF/ World Bank Spring Meetings Civil Society Policy Forum.
What: IMF and World Bank’s Influence on Economic Policy-making in Developing Countries
When: April 13, 2-3.30 pm (tbc).
What: What standards for Public-Private Partnerships (PPPs)? Analysing the role of the World Bank Group When: April 14, 11am -12:30 pm.
What: The role of the World Bank and the IMF in responsible and progressive taxation: tax responsibility standards on lending and supporting developing countries tax capacity When: April 15, 11- 12:30 pm.