Advocates not optimistic about fair global tax system at Davos



DAVOS: Advocates of a fair global tax system are not optimistic about punishing of the cheating nations and individuals despite so much hype created by the Panama papers, as the countries’ tax systems still legally allows people to avoid taxes.

During a session of the 48 Annual Meeting of the World Economic Forum, panelists like Nobel Laureate Joseph Stiglitz and Oxfam Executive Director Winnie Byanima labeled the measures that the European Commission and individual countries have taken so far as insufficient to curb tax evasion.

Big cheating nations like Ireland, The Netherlands and Switzerland have not been nabbed yet, according to them.

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The situation in Europe –that is it biggest advocate of a fair tax system, is not much different from any developing country like Pakistan, as the critics questioned

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