USA: Companies should use their influence to ensure tax reform does not lead to greater inequality, says NGO

Author: Maria Martinez, Oxfam America, Published on: 10 October 2017

"What's it gonna take?", 9 Oct 2017

…Proposed changes to international taxation rules such as switching from a worldwide to a territorial tax system or the repatriation tax holiday, would have ripple effects by incentivizing US companies to stash more profits offshore (likely in tax havens) further straining budgets in poor countries. Corporate tax is an important source of revenue in developing countries, helping to support critical infrastructure, health services, education, and more. Ultimately these changes in the US tax system would not only harm millions of people employed by the corporations and their consumers, but millions more around the world.  Is this not a business case for caution in supporting reforms like those proposed, which threaten to drive even greater economic inequality?...

…The ways companies are avoiding taxes may not be illegal, but the ethics are questionable…

It is time for companies to treat their positions on tax policy the same way they do issues like DACA and non-discrimination…

Read the full post here