It is painful that the rulers of the rich countries have once again failed to address the magnitude of the crises we are going through. But a better world is possible, thanks to a growing global movement of people who are challenging governments to make multinationals and the super-rich pay their fair share of taxes. Each country can…adopt a much more ambitious tax rate for multinationals… Tax justice is not a technical battle, it is a crucial tool for advancing human rights.
COVID-19 is the best example of this. Despite their promises, most Northern states have monopolised and hoarded vaccines. These days, they are turning a deaf ear, while a hundred or so emerging countries, led by South Africa and India, are demanding the lifting of patents on vaccines and treatments against the virus. While intellectual property rights are not the only reason, they certainly are a major obstacle.
An estimated 97 million more people are living on less than US$1.90 a day as a result of the pandemic Negotiations led by the Organisation for Economic Co-operation and Development, the OECD, without really listening to developing countries, have only resulted in the introduction of a 15 per cent tax on multinationals. This will only generate US$150 billion in additional tax revenue, which will, moreover, go primarily to rich countries.
Source: Law Daily Report (lawdailyreport.net)
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