TOP STORIES
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DAY OF ACTION FOR TAX JUSTICE
With the rubber stamp of the G7 and the G20’s finance ministers earlier this year, the world’s wealthiest countries are doubling down on efforts to enact an inequitable and undemocratic tax deal for all countries to adopt. It is imperative for civil society organizations and governments to strongly reject this “tax deal of the rich” and rebuild our broken tax and fiscal systems to make them work for people and the planet. This can only be done under the auspices of genuinely inclusive, democratic, transparent, accountable and transformative governance mechanisms.
STATEMENT:
Asian Civil Society Organizations Call
to Reject the OECD/G20 Global Tax Deal
Amidst the multiple crises in health, the economy, and the climate, peoples in Asia continue to bear
the social and economic costs of fundamental flaws in national and international tax systems.
Illicit financial flows continue to strip away potential revenues critical for financing health and social services most needed for our survival, safety, healing and rebuilding. Tax competition, wide-ranging corporate tax incentives, and barriers to taxation of extractives and digital services remain rife
in the region. The escalating race to the bottom in corporate income tax regimes combined
with corruption, weak transparency frameworks and regulatory mechanisms have enabled
multinational corporations and domestic elites to siphon hundreds of billions out of our countries.
Hollow Pillars on Unequal Grounds:
How the OECD/G20 Tax Deal Upholds the Inequality
and Exclusivity of the Global Tax System
On July 10 2021, the G20 Finance Ministers and Central Bank Governors concluded their third meeting
with a resounding endorsement of the unambitious and undemocratic two-pillar solution of the G7
and the OECD. The G20 endorsement is the latest rubber stamp to the agenda dominated and led
by the Global North to redefine global tax rules exclusively for their own benefit. While painting the illusion
of plugging foregone revenues, the G20 and the OECD’S two-pillar proposal is a false solution that opens more loopholes for tax abuses than it closes. The consequence of the OECD/G20 agreement is strikingly simple – it undermines the calls of peoples from the Global South for a comprehensive, democratic,
and just system of global corporate taxation.
Briefs on Energy and Energy Finance
of Selected Asian Countries
The G7 Summit will be held this weekend
- a regular meeting of the governments
of the richest, industrialized countries
in the world - the US, UK, Germany,
France, Italy, Canada and Japan.
This year’s meeting’s supposed objective
is “to unite leading democracies to help
the world build back better from
the COVID-19 pandemic and create
a greener, more prosperous future.”
Press Release:Asian Movements and Citizens Groups Reject “Inequitable, Undemocratic”
15% G7 Global Tax Deal
As the G7 Finance Ministers’ Meeting in London concluded with exalted acclaim from its member
states on the “groundbreaking overhaul”
of global tax rules, movements raised alarm bells against the impact of the G7 commitment
to a 15% minimum global corporate tax rate.
Finance Ministers of the Group of 7 (G7) –
composed of Canada, France, Germany, Italy,
Japan, the United Kingdom and the United
States – meet annually ahead of the G7 Summit attended by heads of state.
SEE MORE
Statement on the Israeli invasion
of Gaza and the Israel-Hamas Truce
The Asian Peoples’ Movement
on Debt and Development
welcomes the ceasefire between Israel
and Hamas after 11 days of fierce fighting,
the most intense conflict between
the two parties since 2014.
The ceasefire provides relief from military
violence and better conditions to ensure
that humanitarian assistance is delivered
to the affected communities.
But the roots of the conflict run deep –
for so long as the root causes
are not addressed, peace for the people
of Palestine remains fragile if not elusive.
SEE MORE
Following the IFF TrailThe report of the High-Level Panel
on International Financial
Accountability, Transparency
and Integrity for Achieving
the 2030 Agenda or FACTI Panel
underscores the urgent need
to address the systemic problem
of illicit financial flows (IFF) which,
if left unabated, will continue
to widen inequalities.
The Focus of APMDD’s work
APMDD believes in social transformation that is all encompassing and interrelated:
it is economic, political, cultural and environmental and has class,ethnicity/race and gender dimensions.
As its contribution to social transformation, it will focus on:
People-Centered Development, Economic and Environmental Rights and Justice
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Asian Peoples’ Movement on Debt and DevelopmentAPMDD is a regional alliance of peoples’ movements, community organizations, coalitions, NGOs and networks. APMDD believes in social transformation that is all encompassing and interrelated: it is economic, political, cultural and environmental and has class, ethnicity/race and gender dimensions. |
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