Although many political leaders spoke out against tax dodging after the Paradise Papers made headlines one year ago today, the problems that led to the scandal still remain “unaddressed”, the European Network on Debt and Development said.
Tove Maria Ryding, tax coordinator at Eurodad – a network of non-governmental organisations across Europe – said the world is still “far from the point where problems in our tax systems have been fixed”. Corporate tax avoidance is costing countries and estimated $500bn per year, according to Eurodad.
She added that despite the EU’s efforts to prevent wealthy individuals from hiding their wealth and evading tax, there has not been the same progress to make multinationals pay their share.
“Instead, EU governments have been deadlocked in internal disagreement, and there has been a lack of political will to move forward,” Ryding said.
“We know that this can help reduce corporate tax avoidance, but