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SECTION 1 2 3 TIME TO ACT • Develop action plans to tackle forced labour in workplaces within their borders; • Set legal standards protecting the rights of all workers to unionize and strike, and rescind all laws that go against those rights. Corporations should agree to: • Pay their workers a living wage and ensure workers in their supply chain are paid a living wage; • Publish the wages paid in their supply chains and the number of workers who receive a living wage; • Publish data on the ratio of highest to median pay, and aim to meet the ratio of 20:1 in each country of operation; • Build freedom of association and collective bargaining into the company’s human rights due diligence; • End the practice of using their political influence to erode wage floors and worker protections, uphold worker rights in the workplace, and value workers as a vital stakeholder in corporate decision making; • Track and disclose roles played by women in their operations and supply chain; • Agree an action plan to reduce gender inequality in compensation and seniority. 4) SHARE THE TAX BURDEN FAIRLY TO LEVEL THE PLAYING FIELD The unfair economic system has resulted in too much wealth being concentrated in the hands of the few. The poorest bear too great a tax burden, while the richest companies and individuals pay far too little. Unless governments correct this imbalance directly, there is no hope of creating a fairer future for the majority in society. Everyone, companies and individuals alike, should pay their taxes according to their real means, and no one should be able to escape taxation. Governments and international institutions should agree to: • Increase their national tax to GDP ratio, moving it closer to their maximum tax capacity, in order to mobilize greater domestic public revenue; • Rebalance direct and indirect taxes, shifting the tax burden from labour and consumption to capital and wealth, and the income derived from these assets, through taxes such as those on financial transactions, inheritance and capital gains. International institutions should promote and support such progressive reforms at the national level; 116
SECTION 1 2 3 TIME TO ACT • Commit to full transparency of tax incentives at the national level and prevent tax privileges to MNCs where the cost/benefit analysis is not proven to be in favour of the country; • Adopt national wealth taxes and explore a global wealth tax on the richest individuals globally and regionally, and commit to using this revenue to fight global poverty; • Assess fiscal policies from a gender-equality perspective. 5) CLOSE INTERNATIONAL TAX LOOPHOLES AND FILL HOLES IN TAX GOVERNANCE Today’s economic system is set up to facilitate tax dodging by MNCs and wealthy individuals. Tax havens are destroying the social contract by allowing those most able to contribute to society opt out of paying their fair share. Until the rules around the world are changed, this will continue to drain public budgets and undermine the ability of governments to tackle inequality. However, any process for reform must deliver for the poorest countries. A multilateral institutional framework will be needed to oversee the global governance of international tax matters. Governments and international institutions should agree to: • Ensure the participation of developing countries in all reform processes on an equal footing; • Commit to prioritizing the eradication of tax avoidance and evasion as part of an agenda to tackle the unfair economic systems that perpetuate inequality; • Support national, regional and global efforts to promote tax transparency at all levels, including making MNCs publish where they make their profits and where they pay taxes (through mandatory country-by-country reporting that is publicly available), as well as who really owns companies, trusts and foundations (through disclosure of beneficial ownership); • Automatically exchange information under a multilateral process that will include developing countries from the start even if they can’t provide such data themselves; • Combat the use of tax havens and increase transparency, by adopting a common, binding and ambitious definition of what a tax haven is, as well as blacklists and automatic sanctions against those countries, companies and individuals using them; • Ensure taxes are paid where real economic activity takes place; adopt an alternative system to the current failed arm’s length principle of taxing companies; 117
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ACKNOWLEDGEMENTS The paper was writ
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