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This week we respond to leaked details of the European Commission's draft proposal for public country by country reporting for multinational companies. The draft fails to deliver transparency or end tax dodging. We call for a much better final proposal by April 12. Plus a report from Eurodad's French members and partners on French banks' activities in tax havens.  
Top Story
Eurodad responds to leaked European Commission draft proposal for public country by country reporting
This week, details of the European Commission's much anticipated proposal for public country by country reporting were leaked to some media outlets. Campaigners are warning that currently the draft proposal is meaningless and should not be called public country by country reporting as it fails to deliver transparency or end tax dodging. But the European Commission still has time to make sure the final proposal is fit for purpose. 

Following the money: French banks' activities in tax havens
In 2015, French banks published for the first time key information on their activities, which included the taxes they pay in the countries in which they operate. CCFD-Terre Solidaire, Oxfam France and Secours Catholique-Caritas France, in partnership with the Platforme Paradis Fiscaux et Judiciares (tax and legal havens platform) analysed this information in detail. By focusing their investigation on the activities of the five biggest French banks, this led them to the heart of tax havens. The investigation demonstrates the important, unique role played by these territories in the international activities of the top French banks. It also confirms that transparency must be extended to all sectors of the economy in order to combat tax avoidance. This report is available in English and French

Time to tax for inclusive growth
Eurodad's member organisation Oxfam Intermon. together with ECLAC, has published this report which highlights rapidly increasing economic inequality in Latin American countries. The publication points at poorly designed tax systems, tax evasion and tax avoidance that are costing Latin America billions of dollars in unpaid tax revenues. The policy recommendations for governments include putting in place more progressive tax systems at home as well as strengthening global and regional cooperation to reduce harmful tax competition between countries.

What’s New

Eurodad's tax expert, Tove Maria Ryding, was quoted in the Financial Times, the Guardian and several other publications in response to the leaked EC proposal on public country by country reporting.

Development Initiatives has written a two-part blog series that unpacks the outcome of decisions on how aid loans are counted and highlights some elements that need to be closely watched.

From March 15-17 Eurodad experts Bodo Ellmers and Maria Jose Romero, ran training sessions at an event in Belgrade in connection with the project “CSOs as equal partners in monitoring public finance". They focused on Public Private Partnerships and sovereign debt.

Eurodad also joined more than 90 tax justice activists, campaigners and experts from across the world for the Tax Justice Together Conference. Several workshops, working groups and strategy meetings were held. In parallel, a public stunt was organised in Amsterdam to expose the impact of tax avoidance for developing countries.

All of the following events will take place at the IMF/ World Bank Spring Meetings Civil Society Policy Forum

IMF and World Bank’s Influence on Economic Policy-making in Developing Countries 
When: April 13, 2-3.30 pm (tbc). 

What: What standards for Public-Private Partnerships (PPPs)? Analysing the role of the World Bank Group
When: April 14, 11am -12:30 pm.

What: The role of the World Bank and the IMF in responsible and progressive taxation: tax responsibility standards on lending and supporting developing countries tax capacity
When: April 15, 11- 12:30 pm.

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