G20 Finance Ministers open door to new corporate tax era

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This weekend G20 Finance Ministers meeting in Japan are expected to give the green light to a new round of negotiations on international tax reforms. For the first time, countries will debate proposals for fundamental reforms such as where a company’s profits are taxed and whether to set a global minimum effective corporate tax rate.

Commenting on the proposals, Susana Ruiz, tax policy advisor at Oxfam, said:  “This new round of global tax negotiations is a unique chance to put a stop to corporate tax dodging and damaging tax competition.

“If they get it right this could mark the beginning of a new fairer tax era where poor countries are able to claim their fair share of corporate tax revenues – and release the funds they need to tackle poverty and inequality.

“Governments must not waste this opportunity. There is everything to play for in the coming months. The litmus test for success will be an agreement that ensures corporations are taxed based on where they make their profits rather then whichever tax haven they are based in, and which delivers an ambitious global minimum corporate tax rate that applies across all countries, without exception.”

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Notes to editors

For more analysis see Oxfam’s briefing Tax Revolution

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