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The lunacy of tax havens

May 30

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30/05/2013 09:33  RssIcon

Half of investment in developing countries through tax havens

 

Guest blog: Chris Jordan, tax campaigner at ActionAid on new website taxhaven.org

 

The secret’s out. Nearly half of all investment in developing countries goes through tax havens, making it easy for companies to avoid tax bills in the world’s poorest countries. Ridiculous, right?

Yesterday, ActionAid UK unearthed conclusive proof of the lunacy of tax havens. Our new website www.taxheaven.org.uk might seem unreal, but the facts and stories are shockingly true.

Putting up with this situation is crazy when developing countries are losing 3 times more to tax havens than they receive in aid each year. But we have a huge opportunity to make David Cameron bring an end to tax havens at the G8 summit.

Together thousands of us have taken action calling for tax justice, and the pressure is mounting. Last week, George Osborne declared tax avoidance would take centre stage, after our tweets and calls flooded his office.

Now, we have only a few weeks to act together to end tax havens – and make sure poor countries see the benefits immediately. That means as many people as possible seeing the absurdity behind the tax haven scandal, and demanding change.

Take action today: Sign the petition on taxheaven.org.uk

 

Read more about tax havens and their effect on tax avoidance in developing countries in the Actionaid report: How Tax Havens Plunder the Poor.

This post was first published 29/5/2013 at actionaid.org

 

Read more about our tax justice campaign.

 

 

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