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Article

21 Oct 2016

Author:
Mary Frances Mitchner, Non Profit Quarterly (USA)

New Call for UN to End Tax Havens as Scaffolding for Poverty

...[L]ongtime UN leader and transparency activist Alfred de Zayas called upon incoming UN Chief António Guterres to prioritize ending offshore tax havens...Tax havens and secrecy jurisdictions are “places that intentionally create tax regulation for the benefit of use of non-residents to undermine another jurisdiction’s legislation and regulation.”  Tax havens are legal, offering the benefits of low or no taxes, and are characterized as “tax avoidance.”  Secrecy jurisdictions use non-reporting to hide money, which is tax evasion.  However, according to de Zayas’ thinking, the potential to test the boundaries of ethics and the law exists in both.  Secret and illegal tax haven dollars in developing countries could fund basic infrastructure projects, health and welfare programs, and improved educational systems...In a global economy where poverty rates are rising as incomes for a small percentage of people skyrocket, now, he believes, would be the perfect time to take steps toward leveling this playing field...