Researchers call for new tax rules to “tax corporations where employees work, not where ledgers hide” Decades of tax wars among the world's richest countries are unravelling the century-old global corporate tax system, new research finds. Forty per cent of today’s cross-border direct investments … [Read more...]
Press Releases
BAT shifts nearly $1bn out of developing countries into one UK office
For every dollar British American Tobacco (BAT) paid in tax in the countries it operates in, the giant multinational shifted more than half a dollar that would have been taxed locally to a UK subsidiary where BAT paid almost no tax.1 New analysis by the Tax Justice Network estimates Bangladesh, … [Read more...]
IMF support for radical overhaul of international tax rules welcomed by Tax Justice Network
The OECD has opened up a comprehensive review of international tax rules, and the International Monetary Fund paper, signed off by their board and published today, represents an important intervention. Tax Justice Network chief executive Alex Cobham said: “The arm’s length approach has let … [Read more...]
One in nine US multinationals fail to comply with tax transparency law
Analysis of more than 600 US multinational corporations has revealed that 12 per cent failed to comply with UK law requiring them to publish their tax strategies. With the UK estimated to lose £25 billion in corporate tax revenue each year due to multinational corporations shifting profits out of … [Read more...]
Ineffective tax incentives on profits heavily used by African nations compared to European nations, study finds
Despite growing evidence on the ineffectiveness of profit based tax incentives, African nations on average offer three profit based tax incentives for every one cost based tax incentive whereas European nations on average offer a near one to one ratio of tax incentive types, the Tax Justice Network … [Read more...]
The Spider’s Web documentary viewed over one million times on YouTube
Since it was uploaded to YouTube just ten weeks ago, Michael Oswald's seminal documentary film on Britain and its tax haven empire has gained over 1,000,000 views. “The Spider’s Web: Britain’s Second Empire” documents how British elites created a network of tax havens after World War II and the … [Read more...]
PRESS RELEASE: City of London costs UK £4.5tn in lost economic growth
A new report reveals the UK’s oversized financial sector has cost the economy £4.5 trillion in lost economic output between 1995 and 2015 – equivalent to £67,500 for every person in the UK, or 2.5 years of economic output.1 The report, published today by the Sheffield Political Economy Research … [Read more...]
Tax Justice Network responds to UK Shadow Chancellor’s Fair Tax Mark announcement
Responding to UK Labour Party Shadow Chancellor John McDonnell MP’s announcement of an action campaign calling on companies to sign up to the Fair Tax Mark, Alex Cobham, chief executive at the Tax Justice Network, said: “$500 billion is dodged in taxes each year by multinational companies – three … [Read more...]
EU tax haven blacklist blocks just 1% of financial secrecy services threatening EU economies
Tax havens currently blacklisted by the EU are responsible for just 1 per cent of the financial secrecy services facing EU member states, while one-third (34 per cent) is supplied by financial centres from within the EU targeting other member states. New research published today by the Tax Justice … [Read more...]
The Spider’s Web film – now available for free online
Michael Oswald's seminal documentary film on Britain and its tax haven empire is available now on YouTube. Released in 2017 to considerable critical acclaim, The Spider's Web has been screened across the world, from USA to New Zealand. It is now available for free download by anyone who wishes … [Read more...]
The EU flunks the tax haven test
The Tax Justice Network today expresses its deep frustration at the lack of effective action being taken by the EU following the publication of its so-called tax haven blacklist. Commenting on the publication of the list, Alex Cobham, chief executive of the Tax Justice Network said: “The EU has … [Read more...]
Day 2 #paradisepapers revelations – Global corporations need global taxation
In response to the latest Paradise Papers revelations, which have seen large multinational companies exposed milking profits offshore, the Tax Justice Network is calling on countries around the world to start to tax the global profits of multinational corporations. … [Read more...]
PRESS RELEASE: TJN Responds to the #ParadisePapers
The International Consortium of Investigative Journalists have released their latest leak of data from the offshore world. The 'Paradise Papers' are a leak of over 14m documents from the offshore law firm Appleby. So far leading politicians and even Queen Elizabeth have been revealed to be involved … [Read more...]
