The IMF Managing Director Christine Lagarde said Sunday that push multinationals to “transparency” could help counter the techniques of legal tax avoidance which poor countries “suffer most”.
“This should be a subject of major concern,” said the ruling in Washington while the shock wave of the scandal “Panama Papers” continues to spread.
“It could be done to address these problems is transparency, transparency on the flaws of legislation (…), on the location of business activities, transparency about to find out where they have their various subsidiaries and branches where they locate their profits, “said she detailed.
a current charge
the Panama Papers scandal has indirectly brought to light the techniques used by some large companies to reduce taxes artificially locating profits in low-tax jurisdictions.
According to Ms. Lagarde, there is at present a “dynamic” need “support and to be followed by results. “
” If we start with that (…) it could develop proposals. We are fully ready, the IMF, suggest changes, “she assured fence of the spring meeting of the IMF and the World Bank.
According to a recent report Oxfam, the fifty largest US companies, including Apple, Wal-Mart and General Electric, have sheltered some 1,400 billion between 2008 and 2014 in tax havens to reduce their taxes.
developing countries suffer
Christine Lagarde said that developing countries were the main victims of these legal techniques that deprive them of vital resources.
“This is the less well equipped, those who are most dependent on taxes on profits (…) and it is they who suffer most from the incredible creativity and inventiveness of multinational “in accounting, she assured.
According to the ruling, push companies to transparency could be a first step towards new rules.
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