Rich Countries' Double Standards on Taxation
G20 leaders claim – with much self-satisfaction – that they are addressing the global tax-abuse problem, which deprives governments of $483 billion every year. But if the G20 is serious about rectifying the injustice of cross-border tax abuse, it should support developing countries’ call to establish a global tax body at the UN.
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NEW YORK – The last two years have thrown into sharp relief the structural injustices that underpin the global economy. As the COVID-19 pandemic drove an estimated 88-115 million people into extreme poverty, the world’s billionaires saw their wealth increase by more than 25%. And while countries in the Global North are now administering vaccine boosters, those in the Global South continue to struggle to secure even first doses for their populations.