EU Tax Observatory

Are we doing enough to fight tax evasion?   Over the past decade, the fight against tax evasion has taken a central stage of the political discussion with the multiplication of tax scandals. Some of them pointing to clearly illegal practices, others outlining loopholes that enable some actors to take advantage of the grey zone. Policymakers have responded with multiple initiatives: enhanced tax cooperation to tackle bank secrecy, global minimum tax for corporations… What was the impact of such reforms?   Today, we publish our first #TaxEvasionReport. An unprecedented research collaboration investigating the successes and failures of the fight against tax evasion over the last decade.   So what can we say about the global fight against tax evasion? Like in Sergio Leone’s movie, there is the Good, the Bad, and the Ugly.   ▶ The Good The introduction in 2016 of the automatic exchange of bank information had a major impact on bank secrecy. Offshore tax evasion has declined by a factor of about three over the last 10 years. This success shows that rapid progress can be made against tax evasion if there is there is the political will to do so. ▶ The Bad The global minimum tax of 15% on multinationals raised high hopes in 2021 to put a stop to the race to the bottom in corporate taxes. But a growing list of loopholes have dramatically watered down the original deal. Initially expected to increase global corporate tax revenues by close to 10%, a growing list of loopholes has reduced its expected revenues by a factor of 2. Even worse, some of the loopholes may enable the race to the bottom in corporate taxes to continue, only in a different form. ▶ The Ugly No significant international action has been done on the taxation of billionaires. In countries where we have data, we see that billionaires pay much less taxes than ordinary citizens in proportion to their income. This erodes trust in government and exacerbates inequality   🔵 What can we do about it? Tax evasion is not a law of nature. It is the result of policy choices, or the lack of policy choices. We put forward 6 proposals to improve the fight against tax evasion. One of the key measures is a global minimum tax on billionaires. The next #G20 in #Brazil could be an opportunity to make serious progress on the issue. 🔎 To read the full report: https://lnkd.in/eRZjiqwZ

📢 Join us on September 17 for a lecture by Mordecai Kurz (Stanford University) on "Technology-Based Market Power"! Explore the link between technological change and rising economic inequality, based on his latest book, The Market Power of Technology. 🗓️ Date: Tuesday, Sept 17, 2024 🕒 Time: 14:00 - 15:00 📍 Location: Room R2-21 at the Paris School of Economics, 48 boulevard Jourdan Featuring Gabriel ZUCMAN and Thomas Piketty. 🔗 Register now: https://lnkd.in/df3QDzzu Hosted by the PSE Stone Center, World Inequality Lab, and EU Tax Observatory.

Curious about how current tax structures keep inequality going by favouring the ultra-wealthy? 🤔 🗓️ Don’t miss Gabriel ZUCMAN’s lecture on Sept 4 at UNU-WIDER - United Nations University World Institute for Development Economics Research ! Register now: https://go.unu.edu/bQzFS #AL28

The concentration of wealth is a global issue, and it's getting worse! 📈 ⚖️ In his latest op-ed, Gabriel ZUCMAN explains why taxing the super-rich is more possible – and more necessary – than ever. Read more: https://lnkd.in/dAyrPKgB

🔍 Discover the effects of automatic information exchange on tax compliance in our latest Working Paper. We’ve analyzed the universe of information reports sent by foreign banks to Danish authorities, matched to population-wide micro-data on income, wealth, and cross-border bank transfers. 📄 Read the full paper: https://lnkd.in/dnhNZ8My Hjalte Fejerskov Boas │ Niels Johannesen │ Claus Thustrup Kreiner │ Gabriel ZUCMAN

📢 Nouvel épisode disponible 📢 J’ai le plaisir d’accueillir de nouveau sur le podcast Quentin Parrinello. Après Oxfam France, il a rejoint en 2023 l’EU Tax Observatory (l’observatoire européen de la fiscalité), dirigé par l’économiste Gabriel Zucman en tant que Conseiller politique sénior. Dans cet épisode, nous discutons des évolutions majeures en matière de justice fiscale depuis notre dernière conversation en 2021 :   🏢Un impôt minimum de 15% pour les multinationales a été adopté. Quentin en présente les avantages et les limites. 💸Gabriel Zucman propose un impôt minimal de 2% sur le patrimoine des ultra-riches. Cette proposition a suscité l'intérêt du G20. Elle permettrait de générer d’importantes recettes pour les services publics ou encore financer la transition écologique sans que cela ne représente un poids supplémentaire pour les moins riches. Quentin explique comment cette mesure pourrait être mise en oeuvre. 🌐 Les milliardaires risquent-ils de quitter la France ? C’est possible mais on peut limiter ce phénomène en révisant l’exit tax (la taxe de sortie). Après tout, les milliardaires ont profité du système éducatif, de santé, etc. de la France. Il est normal qu’ils contribuent à la hauteur de leur patrimoine et revenu. 🔗 Écoutez l'épisode complet pour en comprendre tous les enjeux ! 👉 Podcasters : https://bit.ly/3Zpu2z7 👉 Apple podcast : https://rb.gy/f87p1l 👉 Youtube : https://rb.gy/eeh4je 👉 Page du site internet : https://rb.gy/jgc8m4 👉 Spotify : https://rb.gy/3lm4l0 #JusticeFiscale #G20 #ServicesPublics #Impôt

🇦🇺 🌏 New analysis on #Australia's Public Country-by-Country Reporting Our latest note examines Australia's upcoming Public Country-by-Country Reporting (#CbCR) legislation and its potential impact on multinational tax transparency. Key findings: ✅ The legislation is expected to cover approximately 50% of large U.S. multinationals, along with significant portions from China, Japan, and Germany. ✅ In some aspects, it surpasses the requirements of the EU Public CbCR directive. ❌ However, the current draft omits several key jurisdictions often associated with tax optimization strategies. The study proposes several enhancements to strengthen the legislation: 1️⃣ Expand the list of jurisdictions for disaggregated reporting 2️⃣ Mandate separate reporting for parent companies 3️⃣ Provide clearer guidance on reporting conventions While the Australian CbCR represents a step towards greater corporate tax transparency, there remains potential for improvement to maximise its effectiveness in addressing tax avoidance and promoting equitable taxation practices globally. Some of the largest Australian companies like BHP, Wesfarmers, and CSL are already voluntarily publishing their CbCR data, they can be explored on our new website, the Taxplorer: https://www.taxplorer.eu/ 🔍 For a comprehensive analysis: https://lnkd.in/gYsT52gk #InternationalTaxation #CorporateReporting #TaxTransparency Giulia Aliprandi

💰How can taxes redistribute wealth and foster economic equality in the pursuit of equitable and just societies?   UNDP #Tax4SDGs and EU Tax Observatory hosted a webinar this week on progressive taxation to achieve the Sustainable Development Goals.   With over 120 participants from 20 countries, we explored the importance of understanding the extent of taxes paid by all members of the society, especially the high net worth people and how these strategies can be applied in developing countries. Government officials engaged with top-level academics and experts from leading organizations, learned about innovative approaches to measuring effective #tax payments, and shared their own experiences in achieving tax progressivity.   Thank you Panayiotis Nicolaides, Tom Beloe , Wouter Leenders, Pierre BACHAS, Laurent Bach, Jairo Orlando Villabona, David Gustavo Suárez Castellanos, Abdullahi Aliyu, Mohammed Shahid Ahmed, Susana Ruiz and Ricardo Guerrero for leading the discussion on progressive taxation and the #SDGs.   📺 You can watch the recording here: https://shorturl.at/wQRT0

The 2nd edition of our newsletter is here! 🚀 Don't miss out on our latest highlights. Catch up now! ⤵

We need finance for Climate Justice, but where do we get the money from? How do we raise funds for communities and our planet? Well, in case you didn't know... tax has something to do with it 💰 💰 💰 In our second webinar in our Understanding Finance for Climate Action series we will be discussing tax justice ⚖ Be there! 🔗 https://lnkd.in/dPuMKht9 📆 Wednesday 17th of July ⏰ 12pm CEST Moderated by Danni Taaffe and joined by: 🎙 Chenai C. Mukumba 🎙 Quentin Parrinello 🎙 Kate Blagojevic