Tax evasion and avoidance robs the world’s poorest people while the rich get even richer. Tax Justice seeks to restore the taxes to whom they are due.
There are lawyers, accountants, bankers and tax specialists who work together to make sure that individuals and corporations pay as little tax as possible. This occurs through mechanisms which are legal (tax avoidance) and illegal (tax evasion).
Tax Havens facilitate tax evasion by enabling individuals and businesses to trade free from taxes and financial regulations under systems of guaranteed secrecy. Tax havens are firmly entrenched in the global financial system, being involved in 50 per cent of all world trade.
The Tax Justice Network Australia is asking the Australian Government to:
Stop Tax Dodging by introducing laws that would:
– Provide automatic exchange of information between tax authorities about money flowing across borders;
– Greater disclosure by companies of how much profit they make and how much tax they pay in each country they operate in; and
– Tougher rules on disclosing the ultimate owners of companies and trusts so banks know who they are dealing with and can ensure that the money has not been illegally sourced.
Make Mining Companies Accountable by introducing laws into Australia that would require mining, oil and gas companies to have to report on a country by country basis.
Stop Tax Dodging within Multinational Companies – by tightening up Australia’s tax laws and international tax rules so that developing countries are not cheated out of their fair share of tax revenue.
Ban Bribery by making it illegal for companies operating in Australia to pay bribes in any form anywhere in the world.