Without China on board, Africa will sufferby Paul Collier / May 22, 2013 / Leave a comment
Published in June 2013 issue of Prospect Magazine
“For companies to claim that they are morally in the right by having devised loopholes is ridiculous, even if their behaviour has been legal” (© Superstock)
It is amazing how much traction has been won by the drive to clamp down on corporate tax avoidance. I now expect more from the G8 gathering of world leaders, which opens in Lough Erne, Northern Ireland, on 17th June, than I did a year ago—or even a few months ago.
When I started working on corporate tax avoidance, on which I have been advising the UK government, it was just before last year’s disclosure that Starbucks paid very little tax in the UK, provoking public uproar. The company later made a contribution of £20m to the tax authorities. This single case made targeting corporate tax avoidance politically easier than it might have been.