As we hurtle towards the European parliamentary elections at the end of the week, ICRICT commissioner Eva Joly, who is also an outgoing green MEP, reflects on a decade of working for tax justice in the European Parliament and the challenges for her successors.
ICRICT welcomes the UN “Financing for Sustainable Development Report 2019” finding that a failure to reshape both national and international financial systems will result in the failure of the international community to deliver the 2030 Agenda for Sustainable Development, including eliminating extreme poverty and combating climate change. One of the most important conclusions of the UN’s report is that “Tax revenues are insufficient, and tax rules are inadequate given digitalization” and “small and poor countries are not adequately included in international tax architecture reform efforts”.
ICRICT held a conference in New York in September of 2018 to discuss a roadmap to a GAR, as described in this declarationpublished on 25 March 2019. Based on these initial steps, ICRICT, the World Inequality Lab project, Tax Justice Network, and Transparency International are co-hosting a workshop to develop the framework for a Global Asset Registry in Paris on July 1-2.
The organisers wish to invite original, high-quality papers for presentation.
The use of offshore structures allows not only the real ownership of wealth to remain hidden, but also its location and perhaps its very existence. This same secrecy also creates fertile ground for tax evasion, avoidance, and for financial crimes.
The International Monetary Fund is releasing a paper this Sunday, calling for an overhaul of the international tax systems. This paper is a timely and much needed intervention as the OECD holds a public consultation in Paris this week on taxation of the digital economy. ICRICT commissioner Edmund Valpy Fitzgerald has issued a comment on the paper.
In recent years, women’s organizations, movements and advocates around the world have been outspoken about the links between tax evasion and tax avoidance and gender equality. When corporations do not pay their fair share of taxes, there is less money to invest in public services, sustainable infrastructure and social protection, which are the key drivers for gender equality.
ICRICT welcomes the publication by the OECD of a “Policy Note - Addressing the Tax Challenges of the Digitalisation of the Economy”. This note shows clearly that the OECD is finally ready to engage on real reforms that ICRICT has constantly advocated for, considering, notably, a move beyondthe arm’s length principle, the principle underpinning the current international tax architecture. This was a taboo until now.
The Base Erosion and Profit Shifting (“BEPS”) initiative, launched by the OECD in 2015 has resulted in helpful solutions for some of the most shocking tax avoidance mechanisms. But it has failed to address the core problem: companies are still allowed to move their profits wherever they want and to take advantage of very low tax jurisdictions.
ICRICT thinks the OECD BEPS process has achieved what it could, within the constraints of politics driven by big corporations. It is time now to move away from the transfer pricing system towards a fairer and more effective system. Read more about our critics and proposals in this a new paper.
La conférence sera animée par Adrienne Brotons, membre de l’Observatoire de l’économie de la Fondation Jean-Jaurès. Elle aura lieu dans les locaux de la Fondation, 12 Cité de Malesherbes, 75009, Paris.