Eight people in the world currently own the same amount of wealth as 3.6 billion people.*
When people don’t have to be honest about the companies they own, it means they can hide money overseas and not pay their fair share of tax.
This is unfair, and part of the solution includes tax transparency. When companies can hide their profits, governments loose out on funding for schools, hospitals, roads and life saving programs for people.
*D. Hardoon. (2017). An Economy for the 99%: It's time to build a human economy that benefits everyone, not just the privileged few. Available at: https://www.oxfam.org/sites/www.oxfam.org/files/file_attachments/bp-economy-for-99-percent-160117-en.pdf