{"id":27584,"date":"2015-01-31T19:27:06","date_gmt":"2015-01-31T19:27:06","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=27584"},"modified":"2015-01-31T19:27:06","modified_gmt":"2015-01-31T19:27:06","slug":"mbeike-report-on-financial-crime-will-shift-global-tax-debate","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2015\/01\/31\/mbeike-report-on-financial-crime-will-shift-global-tax-debate\/","title":{"rendered":"Mbeike report on financial crime will shift global tax debate"},"content":{"rendered":"

This press release was issued by Christian Aid today and I share it here because I share the goals:<\/em><\/p>\n

A new African Union report showing how financial crime drains at least $50 billion a year from the continent will turbo-charge the global campaign for tax justice, Christian Aid says today.<\/p>\n

The new report<\/a>, from a high level panel led by former South African President Thabo Mbeki, says Africa loses more through crimes such as tax dodging and corruption than it gains through development aid each year.<\/p>\n

\u201cThis is an extraordinarily important report which could shift the global debate on tax, financial transparency and corruption,\u201d said Joseph Stead, Senior Economic Justice Adviser at Christian Aid.<\/p>\n

\u201cThis is the first time that African countries have spoken out so strongly and in unison\u00a0 about how these financial crimes are hurting their people. That is a big deal.<\/p>\n

\u201cFrom now on, it will be much harder for the OECD and other rich country groupings to argue, that tax dodging, corruption, money laundering and so on are not a top priority for African governments.<\/p>\n

\u201cThe Mbeki report removes any excuse for not taking immediate and effective action against the multinationals draining billions from developing countries, the shell companies holding looted money and the financial secrecy which protects everyone with dirty money to hide.\u201d<\/p>\n

Christian Aid also welcomed the report\u2019s recommendations for actions to help stop companies and individuals robbing African countries.<\/p>\n

\u201cWe agree that the solutions lie in reforms including public country-by-country reporting for multinationals, public registers of the real owners of companies and a new system of automatic sharing of financial information between governments,\u201d added Mr Stead.<\/p>\n

\u201cThis is why Christian Aid is part of a collation of UK organisations calling for a Tax Dodging Bill that would include public country-by-country reporting for UK companies.<\/p>\n

\u201cRich countries are already pursuing some level of reform but very much with their own interests in mind. The particular needs of developing countries have often been an afterthought.<\/p>\n

\u201cThe Mbeki report must act as a wake-up call, and speed the introduction of international tax and financial systems in which all countries have a say.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

This press release was issued by Christian Aid today and I share it here because I share the goals: A new African Union report showing
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