The 18 january, Oxfam launched its report on inequality: An economy for the 1%.The 62 richest people own as much as the poorest half of the world’s population. The richest 1% now have more wealth than the rest of the world combined.
In this report, Oxfam is highlighting tax havens and the industry of tax avoidance as a powerful example of an economic system that is rigged to work in the interests of the powerful.
Oxfam is therefore calling on all world leaders to agree a global approach to end the era of tax havens.
In addition to the figures highlighting how inequality continues to grow, Oxfam published the following data on tax havens:Oxfam analysed 200 companies, including the world’s biggest and the World Economic Forum’s strategic partners, and has found that 9 out of 10 companies analysed have a presence in at least one tax haven. In 2014, corporate investment in these tax havens was almost four times bigger than it was in 2001.
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