Monday, 21 March 2011

Monday, 21st March - Tax Justice Network

Today's charity is Tax Justice Network, an organisation that was set up to encourage rich people and businesses to pay their fair share of taxes, thereby lessening the tax burden on poorer people like me who work, work, work!

I made a donation via paypal today after looking around for a charity for today! I was originally drawn to this organisation as the founder is a massive inspiration and a highly energetic force for good who restored our faith in humanity - and you don't often hear that said about people's landlords! Proving the adage that "charity begins at home", when MrM got made redundant, he came round and knocked lots of money off our rent. He and his family are the only landlords we're still in touch with, and even came to our wedding last year!

The Tax Justice Network is led by economists, tax and financial professionals, accountants, lawyers, academics and writers and fights against tax havens and the avoidance of tax which leads to: "inequality and poverty, corroding democracy, distorting markets, undermining financial and other regulation and curbing economic growth, accelerating capital flight from poor countries, and promoting corruption and crime around the world."

The figures involved are eye watering and the current deficit could be filled overnight if high net worth individuals and companies paid their tax.

Assets held offshore, beyond the reach of effective taxation, are equal to about a third (a THIRD!!) of total global assets. Over half of all world trade passes through tax havens. Developing countries lose revenues far greater than annual aid flows. The funds held offshore by individuals is about $11.5 trillion – with a resulting annual loss of tax revenue on the income from these assets of about 250 billion dollars.

The Tax Justice Network promotes transparency in international finance and opposes secrecy. We support a level playing field on tax and we oppose loopholes and distortions in tax and regulation, and the abuses that flow from them. We promote tax compliance and we oppose tax evasion, tax avoidance, and all the mechanisms that enable owners and controllers of wealth to escape their responsibilities to the societies on which they and their wealth depend. Tax havens, or secrecy jurisdictions as we prefer to call them, lie at the centre of our concerns, and we oppose them.

Members have written a book called Treasure Islands that has much been in the news recently:
and the extremely readable blog here:

No comments:

Post a Comment