The global tax system is broken and developing countries are paying dearly as a result. The International Monetary Fund estimates that developing countries lose an estimated $213bn a year, close to 2 per cent of their GDP, because of cross-border tax planning by multi-national enterprises. Across the board, tax evasion deprives governments of needed revenue to finance public services and development priorities.
In October 2015, the OECD and G20 launched a new initiative to address international tax avoidance. Will it work?
An expert panel will discuss the following:
• Why is the global economy so vulnerable to corporate tax evasion?
• What is being done to address international tax avoidance?
• What are the strengths and limitations of existing and emerging national, regional and global initiatives?
• What efforts are developing country governments making to reform their tax collection and generation systems?
• What more needs to be done, and whose responsibility is it?