This is the historic moment today when the world decided that a new global tax system is needed, it is possible, and they are going to work for it.
At the
@UN
.
“Oligarchs don’t only come from Russia. We need a global asset register: everybody should know where people are stashing away their wealth and it’s a way to end tax evasion and to give us fiscal space”:
@icrict
's
@Jayati1609
during
@GA4TJ
event on
#TaxJustice
for
#WomensRights
"Un impôt sur les bénéfices des multinationales à l'étranger avec un taux de 25% rapporterait 26 milliards d'euros à la France, soit 10% du budget de la santé. Un taux de 15% signifie seulement 1% en plus. Le gouvernement doit choisir":
@PikettyLeMonde
de l'
@icrict
à
@franceinter
If we don’t get formularly apportionment via the
@OECDtax
Inclusive Framework, it’s US election next. Watch
@PeteButtigieg
discussing how formularly apportionment could be used to stop tax avoidance via
@TheDailyShow
“You ask me why we should tax the rich, at this particular point in time, why now? It’s obvious, it’s where the money is”
@JosephEStiglitz
#WBGMeetings
"I think Colombia and Chile are moving in the right direction", says
@JosephEStiglitz
.
"Why? Not just in Chile/Colombia, but also in the US the richest in our society gets away without paying its fair share, it undermines social solidarity and gives rise to demagogues.
There is an obvious answer. Tax the windfall profits and use some of the revenues to help those suffering,", said
@icrict
co-chair
@JosephEStiglitz
in an interview to
@AFP
at
@icrict
annual meeting hosted by
@PSEinfo
“We introduced a windfall tax for the oil & coal sectors, which are major exports of Colombia.
People said these reforms would reduce investments in Colombia, but they're actually increasing”
@JoseA_Ocampo
“Rich people pay actually a small share, rich corporations pay very little. And the net result of that is that we have an unfair and distorting global tax system”
@JosephEStiglitz
at
@WHO
@UNDP
event today in NY
Breaking: We have been informed that
@IMFNews
is putting pressure on the Sri Lankan government to drop a proposal to introduce a digital services tax as a condition to further financial assistance.
We think this is unacceptable.
Our letter to
@KGeorgieva
:
ICRICT is proud of the appointment of its Chair
@JoseA_Ocampo
as the Minister of Finance in the new Colombia's government. He will make a decisive contribution to the
@petrogustavo
government in its fight against inequality.
/1
"With the CHIPS act, the USA violated the WTO rules. We wrote the international rules and as long as they were convenient for us we obey them, now that they are inconvenient for us we don’t obey them until we rewrite the rules for our own interest"
@JosephEStiglitz
@EUI_EU
“World’s emission are highly unequal. An American in the top 10% emits 122 times more than an African. A minimum tax on the super rich is a no brainer to start compensating how climate change is affecting poor countries” Esther Duflo
#WBGMeetings
@PSEinfo
In Part I, we look at the need to tax the superprofits of multinationals. Listen to our co-chair
@JosephEStiglitz
(in conversation with
@AFP
) explaining why it makes sense to tax windfall profits.
Tax negotiations are finally happening at the
@UN
to agree a
#UNtaxconvention
to deliver a global tax system that is fair to ALL countries and where ALL multinationals and the super-rich pay their fair share.
Read
@icrict
letter to the UN ad-hoc committee
We are delighted to announce that
@Martin_M_Guzman
is joining
@icrict
as a new commissioner. We look forward to working together to deliver a progressive global tax system where multinationals and the richest in our society pay their fair share.
“In 30 years will ask ourselves why did we tolerate the super-rich, the billionaires, paying so little in taxes. This is a political and intellectual failure”
@gabriel_zucman
#UNtaxconvention
The tax reform project in Colombia:
1) Tax the rich
2) Reduce inequality
3) Boost fiscal spending
4) Reduce the deficit
Great work by Minister of Finance
@JoseA_Ocampo
(with
@PikettyLeMonde
magic touch)
"We wish to congratulate the
@FT
for exposing the duplicity of
@OECD
. Our commission has long been concerned about its central role in recent efforts to make multinationals pay their fair share"
Read our co-chairs
@JosephEStiglitz
&
@Jayati1609
letter⬇️
The process to build a tax pact for Latin America and the Caribbean begins, and we, at
@icrict
, are thrilled ! The 🇨🇴 government announced in
@Davos
that it will host the 1st Summit for a global, inclusive, sustainable and equitable taxation in the region.
It’s no longer acceptable that the super-rich pay less taxes than a school teacher in Delhi or a factory worker in São Paulo.
@g20org
: It's past time that we tax them.
@Jayati1609
Taxing billionaires is hard because their wealth is organized in a way that generates little taxable income. That’s why the income tax is not enough, because the notion of income is not well defined. Wealth is well-defined.
@gabriel_zucman
at the EU Tax Symposium
@EU_Commission
“The idea is to have a mechanism of real cooperation that will go over what we consider the frustrating results of the
@OECDtax
negotiations of a couple of years ago,”
@JoseA_Ocampo
told
@Reuters
on the sidelines of the
@wef
annual meeting.
#wef23
Listen to
@icrict
@LEONCENDIKUMANA
about the
@OECDtax
inclusive framework: "In reality, rich countries, which own the multinationals, set the global tax rules, and the multinationals, through lobbying, set the rich countries' agenda"
"Obviamente é importante ter um sistema tributário eficiente e isso exige simplificação. Mas o que é ainda mais ou igualmente importante para o
#Brasil
é reformular o sistema tributário para combater a desigualdade": leia
@JosephEStiglitz
via
@bbcbrasil
"Tax justice has an important role in addressing inequality. The tax reform I am proposing is built on the principles of progressivity & equity. It reforms a tax system that favors taxpayers with higher incomes and those that derive it from capital."
@JoseA_Ocampo
@MinHacienda
Big day for the geopolitics of international tax architecture.
All United Nations members approved by consensus the
#AfricaGroup
's proposal for "Promotion of inclusive and effective international tax cooperation at the
@UN
Should the
@UN
play a bigger role in setting global tax rules?
Ahead of this week's UNGA discussions in New York, our co-chair
@JosephEStiglitz
explains why it is a good platform for inclusive and global negotiations.
Hoy inicia la Cumbre para un nuevo pacto financiero mundial en Paris.
La pregunta fundamental es: ¿de dónde saldrán los recursos para luchar contra el cambio climático?
-Gravando las superganancias
#NewGlobalFinancingPact
#ParisSummit
World leaders are meeting in
#Davos2020
this week. They should think about the reaction of Martians landing on Earth and finding out that multinationals making huge profits pay virtually no taxes, while inequality continues to grow worldwide: watch
@icrict
's
@Jayati1609
"Economists and campaigners in
@icrict
said in an open letter this week that “there is both an urgent need and an unprecedented opportunity to bring about significant reform of the international corporate taxation system” under the auspices of the UN"
“Windfall taxes are a low-hanging fruit to fight the ripple effects of inflation in households struggling with higher energy prices. These are real alternatives to austerity for governments”
@icrict
Co-chairs
@Jayati1609
&
@JosephEStiglitz
at
@PSEinfo
Ecoutez
@PikettyLeMonde
, membre de
@icrict
, critiquer le manque d'ambition du gouvernement français et à l'appeler à adopter, comme le propose
@POTUS
, un impôt minimum d'au moins 21% sur les filiales des multinationales à l'étranger. L'
@icrict
plaide pour 25%. Via
@franceinter
The accumulation of extreme wealth by the world’s richest is corroding our collective future.
Economists, millionaires, and politicians from around the world agree: it’s time for the
#G20
to finally do something about it.
#taxextremewealth
@Jayati1609
@JosephEStiglitz
@JosephEStiglitz
: Debating these issues open the scope for what can be done.
@JoseA_Ocampo
, who was Chair of our Commission, and now the Finance Minister in Colombia, has succeeded in introducing a wealth tax. All these are matters of choice.
136 out of 140 countries and jurisdictions agree to global tax deal in
@g20org
/
@OECDtax
Inclusive Framework.
🇰🇪🇵🇰🇱🇰🇳🇬 do not.
What does this mean for
@G7
countries, and for developing countries? Our commissioner
@Jayati1609
explains
"We at
@icrict
believe progressive taxation is one of the most powerful tools for reducing inequality. To refuse this solution is to force countries to launch austerity programs and cut public services and the pension benefits":
@JosephEStiglitz
"Super profits are not the prerogative of energy multinationals: the pharmaceutical, food, financial and digital sectors are all raking it in, while a significant proportion of humanity is actually starving”:
@icrict
co-chair
@Jayati1609
Read our report:
La competencia fiscal internacional es una ecuación negativa. Beneficia sólo a los accionistas de multinacionales. Y agrava la desigualdad. Hoy en Cartagena🇨🇴, AmLat y Caribe avanzan hacia la justicia fiscal.
@gabriel_zucman
lo explica aquí▶️
#PactoFiscalYa
@eutaxobservatory
Who will pay for post COVID-19 recovery@
@PikettyLeMonde
explains why corporate and wealth taxation go hand in hand to deliver a progressive global tax system. Download
@icrict
new report here:
Can 🇺🇸 now cooperate with the 🌍
to put an end to the race to the bottom in corporate taxation of multinationals & introduce formulary apportionment & a global effective minimum tax of 25%?Listen to our
@Jayati1609
at
@IMFNews
@Oxfam
panel to see how this can become reality
"No more excuses, no more pandemics, no more wars to justify lack of action":
@icrict
calls on G-20 leaders to convene an urgent international summit to address offshore wealth, deploying a fast plan to implement a Global Asset Registry. Via
@guardian
“We,
@IMFNews
, are in favour of taxing the super rich to ensure tax system are progressive. Having
@g20
advancing this agenda helps a lot to ensure countries introduce measure to ensure the rich pay their fair share” Katherine Baer
@IMFNews
#WBGMeetings
“A UN convention opens the door to more transparency in tax. According to the economists
@JosephEStiglitz
and
@Jayati1609
, the
@OECD
has long tilted reforms in favour of its members – advanced countries – and the corporations in them”
@guardian
"An intergovernamental tax body at the
@UN
is the logic answer. It's an alternative that we should seriously consider, as the
@UN
is truly inclusive, truly representative of developing countries, unlike the
@OECD
"
@JoseA_Ocampo
#PactoFiscalLAC
Progressive taxation is a key pillar of democratic societies.
A progressive tax system strengthens social cohesion and trust in governments. A progressive tax system is critical to fund the public goods that are engines of economic growth.
@gabriel_zucman
message to
@g20org
"A well-designed tax on windfall profits can both spur investment and raise revenue. The revenue would enable countries to fund increased public services that can help all citizens, especially the most vulnerable":
@icrict
co-chair
@JosephEStiglitz
@CNN
"Si l’on en reste à un taux minimal d’imposition de 15 % sur les profits offshore des multinationales, il s’agit de l’officialisation d’un permis de frauder pour les plus puissants":
@PikettyLeMonde
membre de l'
@icrict
, qui plaide pour 25%. Via
@lemondefr
« Au Chili, le système fiscal est le garant de la perpétuation des inégalités.
@gabrielboric
n’a pas le choix. S’il veut négocier un nouveau contrat social, il va devoir s’attaquer en priorité à la fiscalité » :
@rmartner1
de l'
@icrict
Via
@lemondefr
Now it's official, the
@EUCouncil
has approved the implementation of the global minimum tax in the European Union.
A step forward in our view, but not enough.
Read our press release here:
and 🧵below
“Latin America’s voice has not been heard in global tax discussions.
This regional ministerial platform will mobilise this voice for the first time”
@JosephEStiglitz
#PactoFiscalYa
Our
@icrict
commissioner
@JosephEStiglitz
knows that's not polite language, but the richest companies in the world are basically not paying taxes. They shouldn't be the ones deciding what kind of reform of the international tax system is acceptable. Watch him.
"Secrecy must be attacked globally. There should be no place to hide. Australia still has the chance to end the secrecy surrounding multinational profit shifting and set a new standard for others to follow"
Our chair
@JosephEStiglitz
in the
@smh
"The majority of countries worldwide have clearly expressed the desire to deepen int’l tax cooperation through a
@UN
Convention. While I understand that opinions on this resolution vary within the G20..the G20 cannot simply ignore such an important fact"
@Haddad_Fernando
⚖️Ensuring that multinational corporations and the wealthiest of our societies pay their fair share of taxes is very much needed for the realization of human rights
@Magda_Sepul
"International taxation should play a part in ensuring progressive taxation.
Tax avoidance is a strategy that favours disproportionally the rich. Somebody who is employed can get advice from the best lawyer or accountant, and still it cannot avoid tax"
@luiscrh
#PactoFiscalLAC
The US is now the worst culprit in financial secrecy according to
@TaxJusticeNet
#FSI2022
launched today. How do we change this? By leading by example: creating comprehensive and transparent asset registries would push other economies to do the same, says
@icrict
@gabriel_zucman
How to get a global tax deal that is fair to the world?
🇦🇷
@Martin_M_Guzman
, 🇳🇬 Zainab Ahmed
discuss this crucial issue with
@icrict
@JoseA_Ocampo
&
@Jayati1609
👩💻live-streamed here:
🗓️28 June
⏰9.45-11am EDT/3.45-5pm CET
Don't miss it!
Exciting news!
@icrict
is pleased to announce that
@PikettyLeMonde
and
@gabriel_zucman
have accepted to join the 10 other members of the Commission. ICRICT will benefit from Thomas Piketty and Gabriel Zucman's perspective on inequality, income and wealth distribution.
#PandoraLeaks
It is time for governments to keep their promises to end the abuse of tax havens by individuals and multinational corporations. Read
@icrict
reaction here 👇👇👇
Un impuesto mínimo de 2 por ciento a la riqueza de los multimillonarios "es un modo muy poderoso de encarar las formas actuales de evasión fiscal"... "solo afectaría a las 3 mil personas más ricas en todo el mundo", dijo
@gabriel_zucman
a
@pagina12
"O Brasil tem a capacidade de recaudar, mas além da eficiência, tem que ter um sistema fiscal mais progressivo. Seria uma ferramenta crucial para ter mais capacidade de investimento, inclusive para a transição verde e para uma sociedade mais justa":
@JosephEStiglitz
no
@bndes
Nous sommes très fiers d'annoncer qu'
@EvaJoly
, une des membres les plus actives de l'
@icrict
, vient de recevoir de
@TaxJusticeNet
la première édition du prix Anderson-Lucas-Norman qui récompense les héros de la justice fiscale. Félicitations Eva !
"The concentration of extreme wealth in the hands of few is neither socially nor politically sustainable.
Rising inequality fuels social discontent and are one of the main drivers of increased political polarization and populist nationalism"
@JoseA_Ocampo
in
@lemondefr
"So I hope when
@g20org
ministers meet, they seriously consider a higher rate than the 15% rate that’s on the table.
@icrict
calls for 25%,
@POTUS
for 21%, a number with a 2 in front will be respectable and a very important improvement”:
@SwannyQLD
#G20Italy
" Via
@CNBC
Listen to
@icrict
Commissioner
@JosephEStiglitz
explaining why a minimum global tax of 25-30% is necessary and why 12.5% is the wrong way to go (courtesy of
@wef
)
“The minimum tax rate of the agreement is too low. In many countries, other social groups such as the middle-class pay 30-40% of their income tax. Now we are saying that it's ok for multinationals to pay only 15%. Is difficult to understand.” -
@gabriel_zucman
at
@Davos
We are very proud to see that
@gabriel_zucman
and
@LEONCENDIKUMANA
, both
@icrict
commissioners, have been made Carnagie fellows. Their work on capital flight from Africa and US income inequality will help build a more sustainable recovery post
#Covid19
.
"What worries me is that this crisis is going to worsen inequality. The people at the bottom are disproportionality losing their job and there are also the most affected by the infection"
@icrict
@JosephEStiglitz
talking with
@TheAusInstitute
about
#coronavirus
economic impact.