End Tax Haven Secrecy
SEAD has joined the End Tax Haven Secrecy campaign which aims to achieve global tax transparency for the benefit of the world’s poor. The campaign is a coalition of like-minded organisations from around the world that work to influence governments, policy and to raise awareness of unfair tax practices.
Tax havens are the main way that companies avoid paying taxes to countries they work in, and are a way in which wealth is transferred from poorer countries to richer ones. Countries with less-developed tax collecting infrastructure are at a disadvantage when following the flow of money in and out of their economies, and are therefore vulnerable to tax avoidance.
The campaign calls on members of the G20 to take action by implementing a policy of sharing tax information between countries, and require companies to be transparent on the profits they make in each country.