Clear all

3 results found

reorder grid_view

Harmful Side Effects: How drug companies undermine global health

September 12, 2018

New Oxfam research shows that four pharmaceutical companies -- Abbott, Johnson & Johnson, Merck and Pfizer -- systematically hide their profits in overseas tax havens. They appear to deprive developing countries of more than $100m (around £80m) every year -- money that is urgently needed to meet the health needs of people in these countries -- while charging very high prices for their products. In the UK, these four companies may be underpaying around £125m of tax each year. These corporations also deploy massive lobbying operations to influence trade, tax and health policies in their favour and give their damaging behavior greater apparent legitimacy. Tax dodging, high prices and political influencing by pharmaceutical companies exacerbate the yawning gap between rich and poor, between men and women, and between advanced economies and developing ones.

Making Tax Vanish: How the Practices of Consumer Goods MNC RB Show That the International Tax System Is Broken

July 13, 2017

Big business is able to take advantage of loopholes in global tax laws and avoid tax on a massive scale. This deprives governments around the world of the money they need to tackle poverty and inequality. It means there is less for them to invest in healthcare, education and jobs. This report examines the failings of the global tax system that facilitate mass tax avoidance. It looks at one example of a multinational company (MNC) that Oxfam thinks is not paying its fair share. It calls on governments and business to implement the reforms that are needed to stop MNCs from avoiding paying their fair share of tax in the future.

The Time is Now: Building a human economy for Africa

May 6, 2016

Africa faces economic challenges not seen for many years. Growth is slowing and commodity prices have fallen. Inequality is high and growing fast in many countries. Africa's greatest natural resource, its young people, risks being squandered. Africa is losing billions to corruption, poorly negotiated deals and tax dodging. Citizens are becoming more outspoken and more active - unhappy with the deals their leaders are striking. Leaders must listen to their people. They must crack down on tax dodging and maximize progressive revenues to invest in the classrooms, clinics and crops that will create a more human economy for Africa.