Tax Measures Proposed To Ease Poverty
October 6th, 2010
Worldwide tax changes and transparency measures need to be implemented soon in order to fight capital flight from poverty-stricken nations and worldwide tax evasion.
Taxation News & Information
Approximately USD 1 trillion worth of illicit capital outflows is experienced by developing nations every year, two thirds of which is attributed to tax evasion by multinationals companies. Curbing these outflows is essential for poorer countries, in order to mobilize the national economy and resources and eradicate local poverty. The information was provided at the recent annual conference of the Task Force on Financial Integrity and Economic Development (TFFIED) where several new international tax measures were proposed, which were claimed would serve to eradicate world poverty, international capital flight, and aid governments worldwide in achieving their economic goals.