Public Management

Davos 2020: Civil society demands fairer global taxation

Davos 2020: Civil society demands fairer global taxation
Wednesday, 22 January 2020 10:54

Actors of the international civil society are calling world leaders at the World Economic Forum currently taking place in Davos, Switzerland, to support a genuine international tax reform that would benefit everyone.

According to the Independent Commission for the Reform of International Corporate Taxation (ICRICT), “all countries have a stake in developing a sustainable international tax system that can help to deal with the extreme inequality of today.”

After decades of inaction, the OECD made an important move challenging the very foundation of the international tax system, which is the ability of multinationals to report their profits in the subsidiary of their choice. In this debate, however, we do not play on equal terms. Rich countries have more human, political and financial resources to make their views prevail,” said José Antonio Ocampo, President of ICRICT.

The independent council's demand goes in the same direction as an Oxfam report that decried the gap between the world's richest and poorest. ICRICT denounced a bad taxation of multinationals which deprives governments, especially those of developing countries, of important resources that could serve their populations.

International taxation remains less discussed at the Davos Forum which rather mainly focuses on climate change issues. At the end of January 2020, the Organization for Economic Co-operation and Development (OECD) is expected to host a meeting to discuss tax reforms. But the institution's proposals are considered to be unambitious.

In many African countries, the International Monetary Fund is asking struggling governments to strengthen the consolidation of their budgets. This is a difficult task because fiscal consolidation does not benefit small and very small companies, while large groups benefit from attractive fiscal agreements signed by their states.

Idriss Linge

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Côte d’Ivoire will receive $234 million for a sustainable urban mobility project in Abidjan. Gambia will receive $32.2 million to build...
Stanbic IBTC and Zenith Bank cut monthly card spending abroad to $500 and $200 Foreign reserves fall by $3.5 billion in six...
Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 million in transactions by end-2025. The fintech...
• Kenya and ASR sign deal to reduce risk on projects worth up to $2 billion.• Risk cover will target infrastructure, energy, logistics, and trade...
Most Read
01

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
02

• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...

Qatar Airways Expands its Network in Africa, Building Presence in Kigali, Johannesburg, and Nairobi
03

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
04

• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...

EY’s Exit Creates $1bn Opportunity in Francophone Africa Consulting Market
05

• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....

UEMOA: Inflation Drops to 0.6% in May, Driven by Lower Food Prices
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.