Oxfam: “There are 7.6 trillion offshore” – The Republic

MILAN – Oxfam, the international organization that deals with humanitarian and development projects, updating the abacus of money kept away from prying eyes IRS: parked offshore there are 7.6 trillion dollars. “Of 68 companies that have taken funds from the IMF, 51 use tax havens,” said Winnie Byanyima, the executive director of Oxfam, speaking at a meeting on tax systems with the Director General of the IMF, Christine Lagarde. Taxation, with tax evasion and avoidance, is back in the limelight with the scandal of Panama Papers, which has engulfed some of the world’s powerful. Just a few days ago, Oxfam had issued a report which focused on the 50 largest US companies, from Apple to General Electric, which alone has over one million dollars kept in branches registered with countries that offer tax conditions better than those of the Member States.

The focus on the problem, just downstream of the new dell’Icij revelations, remains high. The European Commission has recently proposed a fiscal tightening that would oblige multinationals to detail their presence and the taxes they pay, country by country. And innovations are expected in week: will be launched next Tuesday a new platform on taxation that will put together the IMF, World Bank, OECD and the UN. The same Lagarde, during the Fiscal Forum 2016, said: “It ‘s important to have everyone around the table”, thus representing “even the low-income countries.” The contradiction, according to the IMF’s number one, is that “we operate in a global system but the taxes are on a national basis.” The task force “will have no politician orientation – assured Lagarde – the companies will be part of the consultation but the institutions have to work independently”. The general manager of Washington organization has therefore recalled that the IMF had done a study on the situational Panama tax in 2012, with the recommendations that were not implemented and therefore, he concluded, “our report went virtually unnoticed . “

Topics:

tax

tax

fees

Oxfam

IMF

panama papers

un

OECD

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