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	The stark reality is corruption drains national resources leaving the people to bear the cost by Transparency International, IACC, agencies   Trillions in Dirty Money: How Hidden Loopholes fuel Corruption and Inequality, by Baher Kamal. (IPS/Transparency International)   It is no longer a secret that at major global summits there are more lobbyists than official delegates. There, they participate as ‘guests,’ and most of them work for big business corporations. Their goal? To deter the adoption of policies that conflict with their employers’ interests.   Their persuasion exercise quite often helps water down the urgency of taking decisive actions, the need to cut the private business staggering profits, the financial dues of the industrialised powers to the impoverished nations that bear the heaviest brunt of their policies, and so on. To achieve such a purpose, lobbyists often quietly show different sorts of ‘gratitude.’   A clear evidence is what the global movement working in over 100 countries to end the injustice of corruption: Transparency International (TI) informs on the occasion of the International Anti-Corruption Day 2024: Time to tackle the murky world of climate negotiations:   “Every year billions of dollars are mobilised to finance initiatives that curb emissions, fund climate adaptation, and protect crucial conservation areas… But without strong anti-corruption measures in place, these essential resources are at risk of being diverted, and the current finance gap is at risk of never being closed.”   “We can already see evidence of this taking place.” In the carbon credits market, it explains, where the inherent tension between reducing emissions and providing financial returns has led to land grabbing, bribery, projects being double-counted and the prices of carbon credits being keptsecret. “Last year we saw that in total over 90 percent of carbon credits should not have been approved.”   Estimates of total global anonymous and potentially illicit wealth range from US$7 trillion to US$32 trillion (around 10% of total global wealth).   Such an amount is more than 100-fold the 300 billion US dollars promised by the world’s major climate carnage promoters in the concept of “reparation” to the most impacted poor countries.   Responding to the COP29 climate finance agreement in Baku’s climate summit in November 2024, in which rich countries agree to mobilise $300 billion a year to help Global South countries cope with warming temperatures and switch to renewable energy, Oxfam International’s Climate Change Policy Lead, Nafkote Dabi, said:   “The terrible verdict from the Baku climate talks shows that rich countries view the Global South as ultimately expendable, like pawns on a chessboard… The $300 billion so-called ‘deal’ that poorer countries have been bullied into accepting is unserious and dangerous — a soulless triumph for the rich, but a genuine disaster for our planet and communities who are being flooded, starved, and displaced today by climate breakdown. And as for promises of future funding? They’re just as hollow as the deal itself".   "The money on the table is not only a pittance in comparison to what’s really needed –it’s not even real “money”, by and large, added Nafkote Dabi. “Rather, it’s a motley mix of loans and privatized investment –a global Ponzi scheme that the private equity vultures and public relations people will now exploit".   Africa’s Stolen Wealth   “Imagine billions of dollars siphoned from public funds – money meant to build schools, hospitals and infrastructure – vanishing into a web of offshore accounts, luxury real estate and shell companies… This isn’t fiction; it’s the stark reality of how corruption drains resources from Africa and other regions, leaving people to bear the cost,” Transparency International unveiled in December 2024.   TI analysis is based on cases of corruption confirmed by court decisions, as well as credible allegations of corruption and hiding of wealth offshore. The following are just some of the findings that Transparency International has just uncovered:   There is a staggering network of companies, properties, bank accounts and luxury goods; Notably, close to 80 percent of assets were held abroad, often far from where the corruption originally occurred.   In 85 percent of cases, companies and trusts were used to obscure the ownership of assets. Often, complex cross-border corporate structures or multiple shell companies were used to distance corrupt individuals – and their dirty funds – from the asset in question.   If companies are the preferred tool for anonymity, real estate ranks among the top choices for laundering stolen funds. In one-third of the cases we analysed, properties played a central role. France, the United Kingdom (UK), the United Arab Emirates (UAE) and the United States (US) were the preferred locations for purchasing properties connected to suspicious activities.   Hong Kong, Switzerland, the UK, the UAE and the US appear as key destinations for bank accounts used to pay bribes, move or store dirty funds.   Many countries run golden passport and visa programmes which offer fast-track citizenship or residency to foreign nationals in exchange for substantial investment in the country – often in real estate. Member states of the European Union (EU) are particularly attractive, as citizenship or residence in one country grants access to the whole EU.   Golden passports and visas are highly desirable for those associated with corruption because they offer access to a safe haven for their stolen wealth. A high percentage of the golden visas exchanged money proceed from the ‘mafias’ of trafficking in drugs and toxic substances, let alone the business of trafficking and smuggling migrants.   Transparency International listed the major destinations of the ‘dirty money’: British Virgin Islands, France, Hong Kong, Panama, Seychelles, Singapore, Switzerland, United Kingdom, United Arab Emirates and United States.   TI, the international movement working to speed up global progress in tackling illicit financial flows and abusive practices that perpetuate economic inequalities and undermine sustainable development, warns that: “Inequality is a key impediment to sustainable development and social justice. This is particularly true in the case of Africa, where the COVID-19 pandemic has further aggravated social and economic inequalities. Despite two decades of high economic growth, resource-rich Africa is home to 10 of the world’s 20 most unequal countries.   “While extreme poverty is rising, three African billionaires have more wealth than the poorest 50 per cent of the population across the continent.”   http://www.transparency.org/en/news/cpi-2024-highlights-insights-corruption-climate-crisis http://www.transparency.org/en/news/cpi-2024-trouble-at-the-top http://www.transparency.org/en/press/transparency-international-warns-the-corruption-perceptions-index-should-not-be-used-to-mask-democratic-decline http://www.transparency.org/en/press/united-states-cta-beneficial-ownership-reinstating-corporate-secrecy-protects-money-launderers-and-foreign-criminals http://www.transparency.org/en/campaigns/global-standards-fatf-beneficial-ownership-transparency http://www.icij.org/inside-icij/2025/03/treasury-department-wont-enforce-beneficial-ownership-rule-under-the-corporate-transparency-act/ http://uncaccoalition.org/civil-society-challenging-state-capture-in-europe/ http://www.transparency.org/en/news/international-anti-corruption-day-2024-time-to-tackle-the-murky-world-of-climate-negotiations http://iaccseries.org/carbon-credit-projects-remain-in-turmoil-after-fraud-revelations http://www.transparency.org/en/news/dirty-money-hiding-spots-how-corruption-funds-disappear-overseas-billions-africa-assets http://www.transparency.org/en/blog http://taxjustice.net/2024/11/20/did-we-really-end-offshore-tax-evasion/ http://taxjustice.net/take-back-control/ http://www.icij.org/   June. 2024   International Anti-Corruption Conference: Confronting Global Threats: Standing Up for Integrity.   "We must expose and hold to account the enablers of corruption, holding bankers, lawyers, accountants and service providers to account for aiding the corrupt"   In June 2024, over 2000 people from more than 140 countries, working across a wide range of sectors, convened in person in Lithuania to participate in the 21st International Anti-Corruption Conference. We gathered with a shared sense of urgency, and a commitment to working together to address pressing global threats which are exacerbated by corruption, to uphold integrity, and to secure a just, peaceful and sustainable future for all.   We came together in Vilnius at a time when our global community faces unprecedented challenges—from escalating conflicts and environmental crises to the erosion of democracy, shared values, and human rights. Recognizing the pervasive influence of corruption in these crises, we reaffirmed our dedication to combating corruption as central to our common future.   At the 20th International Anti-Corruption Conference, in Washington DC, USA, in 2022, we concluded that fighting corruption is vital to defending democratic values and global security. We underscored the need to restore trust in institutions, protect those fighting corruption, address corruption which harms the environment, and tackle human trafficking and organized crime.   The Washington Declaration emphasized that only through transparency, accountability, and collective action can we overcome corruption and safeguard democracy.   In these tumultuous times, as corruption’s tentacles stretch across the globe, the stakes have never been higher. The very fabric of our societies is at risk, with integrity under relentless assault from adversaries who exploit chaos and the impunity of the powerful.   The urgency of our mission has never been greater: we must rise together, strong and united, to defend all those who stand against corruption and for integrity. Amid these profound challenges our unity, purpose, and determination continue to encourage countless people to join our fight to maintain the moral compass of our society, and to devise new strategies to combat those who are corrupt.   Inspired by this year’s conference theme, Confronting Global Threats: Standing Up for Integrity, we therefore pledge to:   Defend the defenders   In a world where corruption tears apart the fabric of society, brave individuals and groups step forward to defend integrity and confront the forces of corruption. We agree to honour the champions of integrity and reward their determination in the face of danger by protecting them against formidable adversaries.   Governments, civil society, and international bodies must strengthen laws, networks and strategies to further support and protect whistleblowers and all those who defend integrity, regardless of background, taking into account gender, race, age, religion, income and all other dimensions of corruption.   Target environmental crimes   Greed and corruption are at the root of a broken economic paradigm and the associated environmental crimes, which have accelerated e climate change, biodiversity loss and a collapse of the ecosystems on which all life depends. Catastrophic weather events in recent years are a looming warning of what is to come.   We call on governments, businesses, and civil society to decisively fight corruption in climate finance projects and to fight crimes against our environment, with the goal of preventing global environmental catastrophes and accelerating a just transition from an economy rooted in extraction and exploitation, to one based on regeneration and restoration.   Stop kleptocrats, criminals, traffickers, and their accomplices   Corrupt networks benefit from the failure of reforms, and the capture of democratic institutions and of states. We call upon all to join hands To dismantle their global enterprise.   Let us uncover and learn from their strategies, address failures in anti-corruption reforms, ensure agile responses and presumptive improvements that deliver breakthroughs in joint efforts against this dark criminal network putting perpetrators on the defensive.   Prevent global insecurity and violent conflicts   Preventing corruption will also minimise global insecurity, violence, and conflict, since they are deeply interconnected. Violent conflicts and crises benefit kleptocrats and their accomplices, creating chaos which acts as a cover for corruption, and cause immeasurable harm.   We call upon all to address the deadly effects of corruption on peace and human security and enforce actions to stop corruption as a precursor and trigger of conflicts, and as an obstacle to peaceful and fair resolutions.   Build an ethical global economy   Unethical businesses contribute to our current global threats. We call on leaders of integrity in the business sector to use their power to promote fairness. We will support them to intensify their work in advancing a business culture based on integrity and transparency, and to further promote collective action to achieve a sustainable, equitable, and prosperous world economy, where accountability fosters better business.   Leverage technology to fight corruption   Technological advancements, while offering immense opportunities for good, also pose unprecedented integrity risks. We commit ourselves to work together to harness the positive power of the latest tech innovations to accelerate the race against corruption.   This will include showcasing the best examples of tech-fuelled anti-corruption initiatives, and equipping our global movement with the knowledge to maximize the power of technology to fight corruption.   Uphold the principles of democracy and human rights   The global multilateral system, with its emphasis on the universal values of freedom, equality, and solidarity, is under siege. We call upon all to protect the fundamental rights and dignity of people worldwide against the ambitions of the corrupt, with a focus on vulnerable groups.   We commit ourselves to strengthen our efforts to promote respect for the human rights of all people, especially in the face of rising kleptocracies and captured states which are led by those responsible for corruption and repression.   Stop the flows of dirty money   Illegally obtained wealth perpetuates poverty, insecurity, and violations of human rights while weakening democratic institutions thus contributing to democratic backsliding.   Corruption schemes are often transnational and depend upon the international financial system to transfer money across borders.   We call upon all to stop the flow of dirty money from its origins to its intended havens. Let us work together to close the loopholes in the global financial system that allow money laundering and payment of bribes.   We must expose and hold to account the enablers of corruption, holding bankers, lawyers, accountants and service providers to account for aiding the corrupt. We call upon all relevant authorities to collaborate to identify and recover illicitly acquired wealth and assets, and to repatriate stolen money to repair the damage caused to the victims of corruption.   Uncover complex corruption schemes   We stress the need for continuous training and capacity-building programs to equip law enforcement agencies and anti-corruption authorities with the necessary skills and tools to uncover complex corruption schemes.   Investing in cutting-edge forensic capabilities, data analytics, and financial intelligence is paramount to staying ahead of increasingly sophisticated methods employed by corrupt actors.   Elevate the work of leaders with energy, integrity, and passion   Revitalizing the fight against corruption requires energy, integrity, and passion to champion social justice. We aim to elevate the work of leaders who are igniting social movements with innovative approaches, fresh perspectives, and dynamic movements.   Collaborative action is the key to success. There are no insurmountable obstacles for this brave and committed anti-corruption community. Together we will prevail.   http://iaccseries.org/the-21st-iacc-vilnius-declaration-confronting-global-threats-standing-up-for-integrity/ http://iaccseries.org/blog/ http://www.ohchr.org/en/press-releases/2025/08/un-experts-urge-uncac-states-parties-safeguard-civic-space-and-uphold-human   Feb. 2025   What is ‘State Capture’? A Warning for Americans, by Tyler McBrien - managing editor of Lawfare. (Published by the New York Times. Feb. 5, 2025)   On Friday, Treasury Secretary Scott Bessent reportedly granted aides of Elon Musk access to the department’s payments system, which handles more than $5 trillion and sensitive data on Social Security and Medicare benefits and grants. The system also contains data on government contractors in direct competition with Mr. Musk’s own companies.   It was the latest troubling report of the administration’s interventions into practically every corner of the federal government that also include President Trump’s firing, sidelining and encouraging civil servants to quit.   The full picture of the government overhaul has yet to come into focus, and the contours of Mr. Musk’s role and mission in that transformation remain sketchy. (On Monday, President Trump tried to offer some clarity, saying that “Elon can’t do and won’t do anything without our approval.”)   But the cumulative effect of these stories offers at best a complicated answer to what should be an uncomplicated question: Who exactly is running the federal government?   It’s troubling enough not to be able to answer emphatically with “democratically elected leaders.” Even more troubling is the possibility that the actual answer is Mr. Musk — the world’s richest man — and other unaccountable, unelected, unconfirmed allies cozy with the president.   Political economists have a name for that: state capture. State capture occurs when wealthy private interests influence a government to such a degree that they can freely direct policy decisions and public funds for their own benefit or for the benefit of their ideological fellow travelers (or both).   Revelations of this especially pernicious, widespread form of corruption have occurred in other countries — a striking example occurred in the country of Mr. Musk’s birth, South Africa — and they offer cautionary tales for democratic governments everywhere.   The details vary by context, but the political scientist Elizabeth David-Barrett lays out three general mechanisms of state capture. They now sound familiar: shaping the rules of the game through law and policy; influencing administrative decisions by capturing the budget, appointments, government contracts and regulatory decisions; and disabling checks on power by dismantling accountability structures like the judiciary, law enforcement and prosecution, and audit institutions like the inspectors general and the media.   Some of these strategies could come straight from the Project 2025 playbook or Trump administration executive orders. This should disturb all Americans.   According to Ms. David-Barrett, state capture creates broad, long-lasting systemic inequality and diminished public services. Changing the rules of the game to allow such collusion to flourish, she writes, “leaves those few holders of economic power in a strong position to influence future political elites, consolidating their dominance in a self-perpetuating dynamic.”   Mr. Musk’s recent stand against U.S.A.I.D., the federal agency responsible for administering foreign and development assistance since 1961, could have come directly from the state capture playbook — only often more brazen in intent. “U.S.A.I.D. is a criminal organization,” Mr. Musk posted over the weekend. “Time for it to die.” In that time, the agency’s website went offline, and its top two security officials were placed on administrative leave after refusing to allow members of Mr. Musk’s team access to secure U.S.A.I.D. systems. Finally, on Monday, Mr. Musk said that he had consulted Mr. Trump and that “we’re shutting it down.” (On Monday, Marco Rubio, the secretary of state, announced that he is the acting administrator of the agency.)   The example from South Africa was detailed in a 2016 report actually called “State of Capture” from the country’s public protector, Thulisile Madonsela.   It described how, over a number of years, billions of dollars of public funding went into the pockets of a few elites, instead of supporting struggling health services and education systems. Ms. Madonsela’s office had received a series of allegations that the Guptas, a wealthy Indian family with deep business ties in South Africa (the Guptas have denied wrongdoing), had successfully pressured the president and other top officials into removing or appointing ministers of state-owned entities, “resulting in improper and possibly corrupt award of state contracts and benefits to the Gupta family’s businesses.”   State capture is not a condition endemic to post-apartheid South Africa. The so-called Operation Car Wash investigation in Brazil, for example, revealed secret, illicit relationships on the scale of state capture.   So what’s to be done in countries that face the threat of state capture?   First, as in South Africa, conduct a high-profile investigation run by elements of the government not yet captured. Though the United States has no office of the public protector, several federal government watchdog agencies could flex their investigative powers. Mr. Trump already culled as many as 17 inspectors general, but other agencies, including the Congressional Research Service, Government Accountability Office or the Congressional Budget Office, could step up.   Second, opposition leaders must raise alarms. Making the case that this is not run-of-the-mill, pay-to-play corruption will draw the scrutiny needed to raise the alarms. Democrats have been relatively silent since Jan. 20. State capture offers the emergency message largely missing as we enter the new administration’s third week.   Finally, descriptions of state capture must speak directly to its victims: the American people. “If we are guilty of underdescribing state capture in the media, it is perhaps a guilt that lies in our failure to draw a blunt connection between political jargon and real human beings,” the South African political analyst Eusebius McKaiser wrote in 2017.   “We need simpler and more visceral depictions of the meaning of corruption and the opportunities it costs, including the grandest scale of corruption, which is all that state capture picks out.”   Mr. McKaiser demonstrated how it’s done. When a 5-year-old boy drowned in feces in a dilapidated pit toilet at his school while wealthy businessmen were accused of siphoning money away from building things like school toilets, Mr. McKaiser simply declared that the student “died because of state capture.”   Americans should know who is in charge of their national government. If they can’t answer that simple question, government officials and civil society must recognize warning signs of state capture and take back what is ours.   http://www.nytimes.com/2025/02/05/opinion/elon-musk-donald-trump-government.html http://www.lawfaremedia.org/article/elon-musk-weaponizes-the-government Visit the related web page
	Ensure everyone pays their fair share to build a society where no-one is left behind by EU Tax Observatory, Oxfam, GI-ESCR, CESR   A blueprint for a coordinated minimum effective taxation standard for ultra-high-net-worth individuals, by Gabriel Zucman. (EU Tax Observatory)   This report presents the proposal for an internationally coordinated standard ensuring an effective taxation of ultra-high-net-worth individuals. In the proposal, individuals with more than $1 billion in wealth would be required to pay a minimum amount of tax annually, equal to 2% of their wealth.   This standard could be flexibly implemented by participating countries through a variety of domestic instruments, including a presumptive income tax, an income tax on a broad notion of income, or a wealth tax.   The report presents evidence that contemporary tax systems fail to tax ultra-high-net-worth individuals effectively, clarifies the case for international coordination to address this issue, analyzes implementation challenges, and provides revenue estimations.   The main conclusions are that (i) building on recent progress in international tax cooperation, such a common standard has become technically feasible; (ii) it could be enforced successfully even if all countries did not adopt it, by strengthening current exit taxes and implementing “tax collector of last resort” mechanisms as in the coordinated minimum tax on multinational companies;   (iii) a minimum tax on billionaires equal to 2% of their wealth would raise $200-$250 billion per year globally from about 3,000 taxpayers; extending the tax to centimillionaires would add $100-$140 billion; (iv) this international standard would effectively address regressive features of contemporary tax systems at the top of the wealth distribution;   (v) it would not substitute for, but support domestic progressive tax policies, by improving transparency about top-end wealth, reducing incentives to engage in tax avoidance, and preventing a race to the bottom; (vi) its economic impact must be assessed in light of the observed pre-tax rate of return to wealth for ultra-high-net-worth individuals which has been 7.5% on average per year (net of inflation) over the last four decades, and of the current effective tax rate of billionaires, equivalent to 0.3% of their wealth.   http://www.taxobservatory.eu/publication/a-blueprint-for-a-coordinated-minimum-effective-taxation-standard-for-ultra-high-net-worth-individuals/ http://www.theguardian.com/news/article/2024/jun/25/international-scheme-to-tax-billionaires-wealth-technically-feasible-study-finds http://inequality.org/great-divide/a-practical-prescription-for-taxing-our-worlds-richest/ http://www.ips-journal.eu/topics/future-of-social-democracy/a-political-vaccine-against-the-extreme-right-7643/ http://clubmadrid.org/former-heads-state-government-call-president-biden-fellow-g20-leaders-back-global-deal-tax-ultra-rich/ http://www.taxobservatory.eu/publication/global-tax-evasion-report-2024/   June 2024   Our future is public, and tax justice can get us there, by Carolina Rodrigues Finette for the Tax Justice Network   Public services form the backbone of a healthy, functioning society. They include essential services such as healthcare, education, transportation and social security. These services are vital for ensuring that all members of society, regardless of their economic status, have access to basic needs and opportunities for personal and professional growth. High-quality public services contribute to social stability, reduce inequality and promote well-being.   Despite their importance, many public services are underfunded. Governments around the world have increasingly resorted to austerity measures, which involve cutting public spending to reduce budget deficits. These cuts often hit the most vulnerable populations hardest, leading to overcrowded hospitals, under-resourced schools and inadequate social support systems.   In these scenarios, privatisation is often presented as a solution to the funding gaps in public services. However, privatisation poses significant risks. One of the risks associated with eliminating public, free access is the potential for a vicious downward spiral, where reliance on out-of-pocket services increasingly extorts more expenditure. As fees are hiked, individuals may find themselves trapped in debt, especially in worst-case scenarios within the healthcare sector.   Privatisation processes often prioritise profit over people, leading to reduced quality and accessibility of services. Those who benefit most from privatisation are typically private corporations and wealthy individuals rather than the general public. The interests of the rich are often at odds with the need for high-quality public services, as privatisation can lead to higher costs for users and lower wages for workers.   It is crucial to have a reliable and adequate funding mechanism to ensure the long-term sustainability and quality of public services. This involves creating a tax system where those with the most contribute the most. Progressive taxation ensures that wealthy individuals and multinational corporations contribute a fair share of their income to the public good. Such a system can generate the necessary revenue to support and improve public services, benefiting all members of society.   Tax justice is our social power and a critical component in addressing the funding challenges public services face. By ensuring that the wealthy and corporations pay appropriate taxes, governments can secure the resources needed to fund essential services without resorting to austerity or harmful privatisation measures.   Tax justice can:   Expand revenue, ensuring that the tax system generates sufficient revenue to fund public services adequately. Promote redistribution by using progressive taxation to reduce inequality by redistributing wealth from the rich to the rest of society.   Reprice products to discourage harmful activities (like pollution) and encourage beneficial ones (like renewable energy investments) by adjusting taxes.   Support representation by ensuring that all citizens, especially those in marginalised communities, have a voice in how tax revenues are spent, promoting transparency and accountability. Promote reparation by using tax policy to address historical injustices and colonial legacies.   Our future is public, and ensuring tax justice is pivotal for the sustainable provision of high-quality public services. By adopting a fair and progressive tax system, we can generate the necessary funds to support healthcare, education, infrastructure and social security. It fosters a sense of community, ensures that everyone pays their fair share, and helps to build a society where no one is left behind. By embracing tax justice, we can lay the foundation for a more equitable future where public services are the cornerstone of a just and inclusive world.   http://taxjustice.net/reports/the-fiscal-social-contract-and-the-human-rights-economy http://taxjustice.net/press/countries-can-raise-2-trillion-by-copying-spains-wealth-tax-study-finds/ http://taxjustice.net/reports/taxing-extreme-wealth-what-countries-around-the-world-could-gain-from-progressive-wealth-taxes/   June 2024   Public Service Day: Advocating for the Essential Role of Public Services, by Magdalena Sepulveda (Global Initiative for Economic, Social and Cultural Rights: GI-ESCR)   Public Service Day, observed annually on 23 June, was designated by the United Nations General Assembly in 2002 to celebrate the value of public service, highlight its role in development and recognise the work of public servants.   In the face of ongoing global challenges such as increasing privatisation and austerity measures, robust public services are crucial for social protection, good governance and addressing global challenges like poverty and climate change.   Public Service Day serves as a critical reminder of their importance in building a fairer and more sustainable society, and reinforces the necessity of protecting these services from private sector encroachment.   Public services are the bedrock of a just and equitable society, ensuring that essential needs like education, healthcare and social protection are accessible to all, regardless of income or background. However, the increasing trend towards privatisation threatens to undermine these foundations by prioritising profit over public welfare.   Robust public services stand as a crucial counterbalance to inequality and exclusion, promoting social justice and human rights.   http://gi-escr.org/en/our-work/on-the-ground/public-service-day-advocating-for-the-essential-role-of-public-services http://gi-escr.org/en/resources/publications/the-commons-and-public-services http://gi-escr.org/en/resources/publications   May 2024   Civil Society recommendations on International Taxation to G20 Finance Ministers   For the first time, the G20 Finance Track has directly received recommendations from civil society organizations, marking a historic moment in international tax policy discussions.   At the G20 International Tax Symposium, civil society organizations presented to Brazil's Finance Minister, Fernando Haddad. These recommendations aim to guide G20 Finance Ministers towards more equitable and just international tax policies.   The initiative, led by Brazil’s G20 presidency, invited civil society to contribute directly to the dialogue on international taxation which took place in Brasilia on May 22 and 23, 2024, to discuss issues such as the building of a United Nations Convention on Tax, and an international approach to tax wealth.   The recommendations were developed collectively by over 40 national, Latin American, and international civil society organizations, reflecting a broad consensus on the need for inclusive and fair tax systems.   María Emilia Mamberti, from the Center for Economic & Social Rights: “This signifies an important milestone in the efforts of the human rights movement to connect tax and rights. It moved debates in the right direction to understand taxation not as a technical issue only pertaining to “tax payers”, but as a key instrument to enhance living standards for all rights holders”.   Recommendations include:   Support the creation and implementation of the United Nations Framework Convention on International Tax Cooperation (UNFCITC). Ensure civil society participation in tax debates and decision-making processes. Incorporate human rights, socio-environmental, and climate obligations as general principles to guide tax decision-making.   Adopt criteria and measures that promote equity among countries, jurisdictions, and regions, and compensate for development disparities and power imbalances. Incorporate a gender and race/ethnicity approach in tax policies to combat inequalities.   Include the establishment of a global minimum tax on high wealth individuals in the UN framework convention on international tax cooperation (UNFCITC). Create a Financial Transactions Tax under the UNFCITC.   Promote international tax cooperation to facilitate a just and equitable climate transition, particularly through fairer global trade and investment. Support multilateral taxes to finance climate, environmental, and social justice.   Redirect resources from fossil fuel tax incentives to combat hunger, climate change, poverty, and inequality, and to promote climate justice and a just energy transition.   Strengthen efforts in information exchange and tax transparency, and work towards establishing a Global Asset Registry under the UNFCITC.   The event organized by Brazil’s Ministry of Finance is a milestone in the fight for tax justice, demonstrating civil society's commitment to influencing public policies significantly and responsibly.   Civil Society Recommendations on International Taxation for G20 Finance Ministers:   http://cesr.org/cesr-and-civil-society-allies-present-historic-taxation-recommendations-to-brazils-finance-minister-and-g20-authorities http://cesr.org/sites/default/files/2024/g20-recommendations-on-international-taxation.pdf   22 Mar. 2024   UN agrees plan for wealth tax law blueprint. (Tax Justice Network)   The UN tax committee has agreed by consensus to issue guidance on designing wealth tax laws, opening the door for countries to tax extreme wealth. It is estimated that there is more than twice as much wealth hidden offshore beyond the rule of law than there are printed dollars and euros in circulation today.   The UN guidance will provide countries with a blueprint to implement at home, giving countries both the technical know-how and political backing to tax the wealth of the richest members of society – something that most countries have shied away from under fierce lobbying pressure.   Approval for the drafting of a model law included in the guidance was briefly delayed following requests from some countries for minor changes, including relabelling the “model law” as an “example law”.   Nonetheless, the agreement on the guidance signals a historic shift in global consensus on taxing extreme wealth and is the latest demonstration of the UN’s ability to push the needle on tax reform at a globally inclusive scale.   Contrary to expectations, the OECD and other objectors who had voiced opposition to the model law in previous committee sessions did not make a decisive intervention during Thursday’s meeting. Analysts at the Tax Justice Network suspect that the recent prioritisation of wealth taxes by the G20, championed by Brazil, was a factor behind the lack of pushback. The transparency and public scrutiny of UN discussions, compared to the closed-door opacity of OECD processes, may also have reduced the willingness to take blocking positions.   Alex Cobham, chief executive at the Tax Justice Network said, “this is another victory on tax secured at the UN through the leadership of global South countries, but for the benefit of people everywhere.   "Enhancing the technical and political space for national governments to pursue progressive tax measures will, over time, allow countries to generate greater revenues to invest in inclusive public services, while at the same time tackling the extreme wealth inequalities that damage all of our societies. We’re starting to see a consistent pattern, where the transparency of tax discussions at the UN leads to much better outcomes.”   http://taxjustice.net/press/un-agrees-plan-for-wealth-tax-law-blueprint/ http://taxjustice.net/2024/05/28/litany-of-failure-new-briefing-sets-out-oecds-manifold-shortcomings-in-international-tax-talks/ http://www.icij.org/investigations/paradise-papers/wealthy-countries-push-back-as-un-moves-ahead-with-global-tax-plan/   The Forbes 2024 Billionaires list reports that the number of worldwide billionaires grew by 141 in the past year, with 2,781 people holding wealth that exceeds $1 billion. These people own combined assets of $14.2 trillion, exceeding the gross domestic product of every country in the world except the U.S. and China.   Their collective wealth has risen by 120% in the past decade, at the same time as billions of people across the world have seen their living standards decrease in the face of inflation and the cost of living crisis.   Taxing windfall profits of fossil fuels and financial companies. (ActionAid, Oxfam)   In the two years running up to June 2023, 36 companies (14 in fossil fuels and 22 in the banking sector), made windfall profits of US$424 billion. These are not their overall profits, these are just the profits that are above and beyond their normal profits.   In the last two years, the Russian invasion of Ukraine and high inflation and interest rates in much of the world have helped contribute to the bumper profits of fossil fuels companies and the banking sector. By applying a 90% tax on these windfall profits, close to US$382bn could be raised. This money is urgently needed to address hunger, for climate action, to protect vulnerable communities and to build resilience through improved social protection and public services.   http://www.oxfam.org/en/press-releases/less-8-cents-every-dollar-tax-revenue-collected-g20-countries-comes-taxes-wealth http://oxfamilibrary.openrepository.com/bitstream/handle/10546/621477/bp-survival-of-the-richest-160123-en.pdf http://taxjustice.net/press/un-agrees-plan-for-wealth-tax-law-blueprint/ http://www.oxfam.org/en/press-releases/wealth-five-richest-men-doubles-2020-five-billion-people-made-poorer-decade-division http://policy-practice.oxfam.org/resources/inequality-inc-how-corporate-power-divides-our-world-and-the-need-for-a-new-era-621583/   http://actionaid.org/publications/2024/taxing-windfall-profits-fossil-fuels-and-financial-companies-can-boost-climate http://actionaid.org/publications/2024/briefings-climate-justice-and-finance http://www.ipsnews.net/2024/01/worlds-richest-men-leave-women-far-behind-amid-rising-economic-inequalities/ http://www.globaljustice.org.uk/news/new-report-taken-not-earned-how-monopolists-drive-the-worlds-power-and-wealth-divide/ http://www.nature.com/articles/d41586-0 http://www.ips-journal.eu/topics/economy-and-ecology/addressing-gender-inequality-in-climate-response-7367/ http://globaltaxjustice.org/news/upholding-womens-rights-by-taxing-fairly-for-gender-transformative-care/
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