Oxfam’s report Tax Battles: the dangerous race to the bottom on corporate tax, exposes 15 jurisdictions as the worst tax havens used globally by multinationals to avoid paying tax in the countries where they operate. Among the world’s biggest companies, 90% have a presence in at least one tax haven.
Click the map of the world’s worst tax havens to see an interactive version
Oxfam’s researchers compiled the ‘world’s worst’ list by assessing the extent to which these countries use damaging tax policies to help corporates reduce their tax bills, including using low or zero company tax rates, unfair and unproductive tax incentives, and showing a lack of cooperation with processes fighting tax avoidance.
The Australian government must do more to curb the use of tax havens.
Oxfam Australia analysis estimates tax-dodging by Australian-based multinationals through the 15 worst corporate tax havens cost Australia between $4 and $4.8 billion in 2014 — accounting for about 90% of Australia’s lost corporate tax. Switzerland, Singapore and The Netherlands are revealed to be the top three offshore financial centres used by tax-dodging multinationals operating in Australia.
The Australian Government has a responsibility to join efforts to stop this race to the bottom on corporate tax rates, and demand that companies pay their fair share – at home and abroad.
Sign the petition and demand that governments act to stop tax dodging. It’s time to Make Tax Fair.