Once again, Mario Ritter.
The demonstrators at the Treasury called on Chancellor George Osborne to discuss the practice with finance ministers from other wealthy countries.
Melanie Ward is a spokeswoman for the “Enough For Everyone If” campaign.
“I think a lot of people both here in the UK and around the world are fed up with tax dodging. They’re fed up with a system where the rich and powerful play by a different set of rules to everybody else.”
Ronen Palan is a professor at City University London. Professor Palan says tax havens and low-tax countries like Ireland are popular because companies and wealthy individuals can save money.
“These countries offer very low taxation, either to [corporations] or to individuals. And, specifically, they target non-residents.”
But critics of tax havens say big companies transfer profits out of the very countries on which they and their wealth depend.
“Africa exported about $1 trillion of capital in the last 30 years, whereas inward investment in terms of FDI [foreign direct investment] or aid is about $300 billion. So Africa is losing capital. Africa, or sub-Saharan Africa, is actually funding development elsewhere.”
The charity ActionAid says the brewing company SABMiller uses a complex system of tax havens. It says this system moves profits out of the company’s operations in developing countries like Ghana.
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2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25