Preventing tax loss through offshore financial centres: The EBRD must lead by example
Publisher: CEE Bankwatch Network
Volume: 4 pages, pdf
Description:
The EBRD has increasingly recognised in recent years that achieving its mission – promoting a transition to a well-functioning market economy - requires building strong institutions and ensuring that all social groups are included in the economy. This has entailed a growing recognition that the state, far from taking a hands-off approach, has an important role to play. For this it needs resources, and taxation is one of the main means to ensure them. The crucial role of taxation is also recognised publicly by the world’s leaders. As the G20 leaders stated in September this year, “In a context of severe fiscal consolidation and social hardship, in many countries ensuring that all taxpayers pay their fair share of taxes is more than ever a priority. Tax avoidance, harmful practices and aggressive tax planning have to be tackled.”