Budget 2016 lost opportunity for real tax transparency

Budget 2016 lost opportunity for real tax transparency

The Irish government’s final budget is a lost opportunity for real tax transparency needed to ensure a fair recovery for all.
 
We need to wipe out the secrecy that facilitates corporate tax dodging. Corporate tax dodging means governments keep putting their hands in the pockets of ordinary taxpayers to pay for the shortfall – many of whom can least afford it.
 
Minister Noonan announced today that Ireland will be one of the first countries to require companies operating here to declare to tax authorities how much tax they pay and where in line with new OECD recommendations. However, Ireland’s tax authorities will not have to share the information or force companies to publish their reports.
 
The government has moved in the right direction with measures announced today but missed the opportunity to show real leadership by ensuring companies publish their results so citizens are aware of exactly what they earn where, what they owe where and what they actually pay in tax.
 
18,000 people petitioned Minister Noonan last week asking him to make tax fair as part of Oxfam’s campaign against inequality. By dodging their tax liabilities, big businesses are constraining the ability of governments worldwide to tackle inequality and provide critical services. Ordinary people in rich and poor countries alike lose out as a result of tax havens, tax competition and a lack of transparent data on financial activities.
 
We recognise the government’s efforts over the past two years to deliver this action plan.  But this tax package must mark the beginning, not the end of global tax reform.  We need reforms that genuinely create an international tax system which works in the interests of the majority – not the few.
Posted In: