New Report Puts Spotlight on Corporate Tax Avoidance
Brussels, 28 November 2011 (ITUC OnLine): A new report released in London today by the Global Union Federation, Education International, documents the massive revenues lost to governments through corporate tax avoidance and the impact of this on education and other vital public services which are at risk from government expenditure cuts.
“Hundreds of billions of dollars are lost each year as corporations find new and intricate ways to avoid paying their taxes, and governments compete to attract multinational investment by cutting company tax ever lower. Governments are effectively cheating their own people of corporate tax revenues which could be put to good use in ensuring quality public services. They need to focus on ensuring companies pay their fair share, instead of cutting back government services, reducing wages and reducing peoples’ rights at work through misguided fiscal austerity measures,” said ITUC General Secretary Sharan Burrow. “This report will help bring the scandal of corporate tax avoidance into the public spotlight."
The report, Global Corporate Taxation and Resources for Quality Public Services, was prepared by the Education International Research Institute on behalf of the Council of Global Unions, which brings together The Global Union Federations with the ITUC and the Trade Union Advisory Committee to the OECD.
For more information, see: http://www.ei-ie.org/en/news/
For more information, please contact the ITUC Press Department: +32 2 224 020 or +32 476 62 10 18