G8 on tax: More a first step than a giant leap | ODI

Tax avoidance is at the hear of developing countries’ inability to fund vital public services (most importantly, health, education and infrastructure) for lack of sufficient budget. Emphasis is often placed on “plunder through the dubious extractive industry dealings”. The inconvenient truth, however, is that in numerous cases in Sub-saharan Africa, political leaders at the highest levels are complicit for their own personal financial gain.

Are the G8 and G20 willing to incorporate those cases into policies/practices that deal with transparency that will not only address tax evasion, but also the outright theft of national financial resources by countries’ own leaders?

Kevin Watkins“Getting agreement on global action to prevent tax evasion was never going to be easy. In the event, the G8 summit communiqué has delivered more than a whimper, but far less than the big bang that many had hoped for.”

– Kevin Watkins of ODI
(Overseas Development Institute)

Via G8 on tax: More a first step than a giant leap | Opinion | Overseas Development Institute

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Posted in Global Issues, World Affairs

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