In the shuffle of the ‘Panama Papers,’ has a global tax body emerged?

Pressure is mounting on development and political leaders to confront tax evasion in the aftermath of the recent recent “Panama Papers” leaks. Photo by: tomaszzz / pixabay

Global tax reform was on development leaders’ minds as they met last week in New York City to check on progress toward financing the sustainable development goals through the so-called Addis agenda, drafted at the Financing for Development Conference in July 2015.

Pressure is mounting on development and political leaders to confront tax evasion in the aftermath of the recent “Panama Papers” leaks, which exposed more than 2,000 clients engaged in tax avoidance at the hands of the world’s fourth largest overseas finance consulting firm, Mossack-Fonseca. Oxfam estimates that developing countries lose $200 billion annually through similar tax avoidance.

Yet how — and where — world leaders should address tax reform remains contentious.

... read more at: https://www.devex.com/news/in-the-shuffle-of-the-panama-papers-has-a-global-tax-body-emerged-88070

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