Financial Transparency Coalition

Late last week, Senator Bernie Sanders (I-Vermont) introduced the Corporate Tax Fairness Act. Right now, corporations based in the United States are allowed to defer taxes on any overseas earnings indefinitely. In practice, this leads to two things: tremendous amounts of profit shifting via abusive transfer pricing to tax havens, and large deposits of untaxed cash sitting in bank accounts located in those same tax havens. If enacted, this law would end deferral, requiring that all U.S. corporate profit would be taxed for the year that it was earned.

LONDON – Hunger and malnutrition in childhood will trap almost a billion young people in poverty by 2025, according to a major new campaign, launched today by Britain’s leading development charities and faith groups. ‘Enough Food for Everyone IF’ is the largest coalition of its kind in the UK since Make Poverty History in 2005.

This week more than 100 organisation have joined together to launch the biggest campaign since Make Poverty History. ENOUGH FOOD FOR EVERYONE – IF aims to tackle hunger which grips our world. 1 in 8 people on the planet go to bed hungry every night and more than 2 million children die from malnutrition annually.

Is it inevitable that multinational companies pay pitifully small sums in tax relative to huge profits? Not necessarily because amid growing political and public outrage at how multinationals organise their tax affairs, a new report today suggests there could be an alternative.