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Platform Conference - The future of corporate taxation: Time to end the race to the bottom - Side Event

The future of corporate taxation:  Time to end the race to the bottom

Wednesday, February 14th  13:30-14:30

Conference Room 12, United Nations Headquarters

BY INVITATION ONLY

On behalf of Oxfam, the Independent Commission for the Reform of International Taxation and the Financial Transparency Coalition, we are delighted to invite you to The future of corporate taxation: Time to end the race to the bottom February 14th, 13:30 – 14:30 to be held as a side event at the upcoming Platform conference at UN Headquarters.

A distinguished panel, including ICRICT commissioners Professor Joseph Stiglitz and Magdalena Sepulveda, and Hamlet Gutierrez of the Dominican Republic tax revenue authority will explore why fair taxation is critical in the fight against inequality, achieving human rights and the Sustainable Development Goals.

The global agenda for change has made significant progress and more reforms have been launched in the past 4 years than over the last century, but current international tax rules remain inadequate and still allows significant opportunities for tax avoidance

Not only are taxes not being paid in the jurisdiction where real activities occur, but governments from all around the world are choosing to artificially encourage direct investment through tax competition. By either dramatically lowering corporate tax rates or offering wasteful incentives, countries are forced to compete against each other.

In this game, developing countries are still most heavily impacted by tax competition. Retaining and taxing resources could contribute towards reducing income inequality, strengthening human rights, and boosting the implementation of the SDGs. It is vital to improve and reform the taxation system but this will require strengthening cooperation at the global, regional and sub-regional levels, which would make even more sense in countries where the gap in achieving SDGs remains huge.

This is a seminal year to end the race to the bottom and tax competition. While individual nations are taking unilateral decisions that have a damaging impact upon every other country, the global community is still moving at a fraction of the speed needed to address the problem inclusively and comprehensively. The matter needs urgent attention.

Our panel will focus on:

·        Why nations are compelled to compete, not cooperate? Who are the winners, who are the losers?

·        What can be done: an agenda to counter the race to the bottom. From technical tools to political consensus.

·        How a global deal to end tax competition and the race to the bottom could be set.

·        How can we strengthen international cooperation in an inclusive way?

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The future of corporate taxation:  Time to end the race to the bottom

February 14th, 13:30 – 14:30, Conference Room 12, UN HQ

 

 

           

**ICRICT has published this week a new publication "A Roadmap to improve rules to tax multinationals. A fairer future for global taxation" presenting concrete solutions to reorient the existing system of international taxation away from serving the wealthy few and to focus it instead on addressing the needs of the vast majority of the population. You can read it here.

 

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