This is a really critical moment for corporate tax transparency.
A proposed EU law would mean all big multinational corporations must finally disclose how much they earn in each country and what they pay in taxes. Increased transparency means we could hold them accountable and ensure they are paying appropriate taxes in all countries.
Members of the European Council will vote on 25th February but the Irish government has been one of the few countries consistently blocking these proposals.
Will you take urgent action today by signing our petition calling on Tánaiste Leo Varadkar and Minister Paschal Donohoe to vote in favour of transparent tax practices for large multinationals on 25th February?
Tax is a powerful way to fund schools and hospitals everywhere. We all pay taxes, but big multinational companies are not paying their fair share. In fact, corporate tax avoidance costs countries around the world an estimated US$500 billion annually.
This money is desperately needed to fund vital public services – from educating children to vaccinating populations against COVID-19. And in developing countries, these public services can be the difference between life and death.
Dear Tánaiste Varadkar & Minister Donohoe,
We all pay tax, but right now, big companies aren’t paying their fair share. This takes billions of dollars away from vital public services every year and the world’s poorest people are suffering as a result.
ActionAid’s research found that Google, Facebook, and Microsoft are exploiting loopholes in global tax policy to avoid paying as much as $2.8 billion (€2.3 billion) in tax revenue in developing countries. The income lost from the ‘tax gap’ could have been used to pay for 729,010 nurses, 770,649 midwives or 879,899 primary school teachers annually in 20 countries across Africa, Asia, and South America. Women and young people are paying the price for an outdated system that has allowed big multinational companies to rack up huge profits while contributing little or nothing towards public services in developing countries.
Multinational corporations are currently not required by law to publicly disclose how much tax they pay in each country where they operate. But it doesn’t have to be this way. Greater transparency could stop this from happening by allowing countries to see what multinationals are paying and where.
If big companies reported this information publicly, on a country-by-country basis, governments, citizens, and journalists could monitor the movement of money and ensure appropriate tax is paid in all countries, including those that need it most.
Ireland should move immediately to remove its opposition to public country-by-country reporting. We call on you to support greater transparency and tax justice by voting in favour of public country-by-country reporting at the European Council meeting on 25th February.
In a time of unprecedented health and economic crisis, it is imperative that large multinationals are fully accountable and paying their fair share.
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