The Global Corporate Tax Deal – An African Perspective. Washington, DC — Global Financial Integrity (GFI) in collaboration with Advocates Coalition and Development and Environment Uganda (ACODE) in a new tool-kit examines the key elements, opportunities, and...
WASHINGTON, DC – G20 leaders met this past weekend in Brisbane, Australia for their annual summit, issuing a communiqué full of ambitious proposals for growing the global economy, but noticeably lacking in responses to illicit financial flows, one of the largest drags on development worldwide. Global Financial Integrity (GFI), a Washington, DC-based research and advocacy organization, expressed its disappointment at the underwhelming result.
WASHINGTON, DC – As world leaders gather in Australia this week, Global Financial Integrity (GFI) called on the G20 to take strong action against illicit financial flows by embracing simple corporate transparency measures. Specifically, the Washington, DC-based research and advocacy organization urged G20 leaders to endorse the creation of public registries of beneficial ownership information as well as require all multinational corporations to publicly report their sales, profits, and taxes-paid on a country-by-country basis, as necessary tools to detect and deter crime, corruption, and tax dodging.
GFI President Raymond Baker signed a letter to the G20 along with 24 other high level individuals calling on world leaders to support public registries of beneficial ownership information and require public country-by-country reporting for all multinational companies ahead of the 2014 G20 Summit in Brisbane, Australia. GFI thanks Transparency International for coordinating the letter.
WASHINGTON, DC – The G20 leaders agreed today to begin sharing tax information automatically between themselves—expecting to be able to implement the agreement by the end of 2015—in a move hailed by Global Financial Integrity (GFI) as a major advancement in the fight against tax evasion. GFI welcomed the commitment by world leaders to assist low-income countries’ effort to additionally ensure their eventual participation in the automatic exchange of tax information. However, the Washington, DC-based research and advocacy group expressed disappointment in the G20 declaration’s omission of a timeframe to include developing countries in such a system.
WASHINGTON, DC – As world leaders prepare to meet in Moscow this week to discuss stagnating economic growth, Global Financial Integrity (GFI) urged G20 leaders to take strong action to curtail illicit financial flows, the proceeds of crime, corruption, and tax evasion. The Washington, DC-based research and advocacy organization called on world leaders to expand efforts to crackdown on abusive tax dodging and the anonymity surrounding anonymous shell companies.
WASHINGTON, DC – Over the weekend, the G20 finance ministers echoed the call by the G8 countries at Lough Erne to rapidly move to a system of automatic exchange of tax information, a move praised by Global Financial Integrity (GFI) as essential to cracking down on international tax evasion. As with the G8, the G20 finance ministers offered to provide support to poorer countries as they move to adopt the “new, global standard,” likewise eliciting support from GFI. However, the Washington-DC based research and advocacy organization expressed disappointment in the G20’s failure to embrace tax transparency for multinational corporations and the finance ministers’ reticence to meaningfully address the issue of phantom firms.
WASHINGTON, DC – Global Financial Integrity (GFI) lauded former UN Secretary-General Kofi Annan and the Africa Progress Panel (APP), which he chairs, for highlighting the devastating impact that illicit financial outflows have on economic development and poverty alleviation across the continent in the 2013 Africa Progress Report published today. The APP report cites GFI’s research on illicit financial flows and calls upon the G8 to require full, public disclosure of the beneficial ownership information of all corporate entities within the next year.