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Article

10 Oct 2016

Author:
Juan Pablo Bohoslavsky, UN Independent Expert on foreign debt and human rights; Obiora Okafor & Jean Ziegler, Human Rights Council Advisory Committee

Corporate tax avoidance is "effectively stealing" from public services, according to UN experts

"Bahamas leaks: What else do we need to know to take action? UN rights experts ask", 6 Oct 2016

When individuals and corporations hide unreported assets abroad to escape taxes or launder money, they are effectively stealing from the public. The proceeds from these illicit activities could and should be devoted to funding public services, such as health care, housing, schools, transportation infrastructure, social security, law enforcement and courts...Thanks to the work of investigative journalists, the taxpaying public is now aware of these immoral and illegal strategies, and understands how tax abuse undermines economic, social and cultural rights. States must prove they take seriously the interest of billions of people all around the world who suffer from the erosion of public services owing to massive fiscal misconduct...Transparency and accountability for offshore financial activity needs to be established. States must set uniform minimum taxation floors, to prevent individuals and business entities from shopping for the lowest possible tax rates...