As the world grapples to find the cash to end poverty and battle climate change a proposal to set up an inclusive United Nations intergovernmental global tax body that could reform tax policies has been rejected. The disappointing move happened in Addis Ababa where the Third International Conference on Financing for Development (FfD) took place.Representatives from the Canadian government have been saying for months that they would reject changing the status quo.
Establishing such a political body on tax within the UN was seen as an effective way to ensure developing countries could increase domestic resource mobilization through fairer international tax policies. It was also seen as a way to fight back against the damaging tax practices employed by multinationals. Tax avoidance by big companies -- who employ accounting tricks to shift profits into countries with secretive tax regimes is particularly hard on African countries. Illicit money flows and tax evasion costs Africa between $30-$60 billion in revenue every year. Africa loses more money through these practices than it gets in international aid.
Vancouver-based Silver Wheaton owes at least $200 million in taxes. A Canada Revenue Agency investigation reveals that the resource company set up a business model to avoid paying Canadian taxes. And the company tells reporters that it isn't doing anything different than hundreds of other companies in the industry. Here's hoping the CRA follows up.
Canada has a long history when it comes to tax havens. A lot of CEO "gentlemen's agreements" and political "understandings". Now, the situation is draining billions from our tax revenues. Are Canadians ready to push back?
A group of neighbours and friends in a Montreal community become outraged by corporate tax avoidance and the fact that 1 per cent of people own half the world's wealth? What happens next? Pushback time - and a voice in the next federal election, for starters. Read this profile to find out the whole story.
This week you have a chance to join with people the world over who believe governments have to stop corporate tax evasion. A global photo petition has been put together by our partners, the Global Alliance for Tax Justice. It is intended to influence decisions at an upcoming United Nations Conference on Financing for Development.
Download and print any of the signs from the Global Tax Justice campaign page. Get family, friends and colleagues to take your photo holding the sign with your message. Post the photo to Twitter using #TaxJustice and tag @CdnTaxFairness too. Or uplodad your photo to the Global Tax Justice campaign page.
A documentary about the murky world of offshore tax havens is set for a screening at Ottawa’s downtown Shaw Centre (former Congress Centre) June 16 at 7pm. The Price We Pay by Harold Crooks goes behind the scenes to show how multinationals and the super-wealthy game the system to avoid paying tax.There is at least $199 Billion officially reported Canadian corporate funds in the top ten tax havens – part of the $38 trillion diverted internationally.
Interested in working with us to set up a screening in your community? Contact us and we can work with you to make it happen.
Canada's Senate has started a debate on the Fairness for All Canadian Taxpayers Act. The legislation was introduced by Charlottetown Senator Percy Downe, a long-time critic of government inaction on tax havens. "This is about the right of Canadians to know that their tax system is fair. The current state of affairs suggests a failure on the part of the Canada Revenue Agency to come to terms with overseas tax evasion. It has created a problem that is costing the Canadian government billions in lost tax revenue."
In theory, governments aren’t supposed to tax essential items.Yet every year the CRA collects an estimated $36 million from federal tax on tampons.That's just the tip of the iceberg. Sadly, the tampon tax is loose change compared to other ways tax policy fails women and costs them and their families.