In the midst of a coronavirus pandemic, the world is facing a doubling in the number of global poor. But governments focusing on huge rescue packages to save corporations, including those registered in tax havens, from taking too big a hit, writes Astrid Paulsson.
French economist Thomas Piketty argued in his bestselling book Capital in the Twenty-First Century that capitalism arose from feudalism and is in many ways reverting to it.
Ecuador presented its commitment to fighting against tax havens at the United Nations by underscoring how tax dodging by the elite profoundly affects the economy of the majority of the world’s population.
Ecuadorean Foreign Affairs Minister Guillaume Long introduced a plan to "advance together in a global agenda for fiscal justice" at the UN Human Rights Council in Geneva on March13.
"Tax revenues are the most predictable, stable and important source of resources available to states to finance the protection of human rights," said Long.
Ecuador ramped up its fight against tax dodging on September 21 as the South American country proposed a plan on the sidelines of the UN General Assembly in New York aimed at tackling offshore tax havens with stiffer regulation.
The push comes in the wake of the Panama Papers leaks that exposed just the tip of the proverbial iceberg of global tax evasion and its impact on the global South.