Make tax fair
Extreme inequality is one of the defining issues of our time.
The global inequality crisis is reaching new extremes and is bad for us all. Yet the consequences are harshest for the world’s poorest people.
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Tax is one essential tool to ending extreme inequality, and could help lift millions of people out of poverty. Tax revenues collected by governments here and around the world are key to providing public services like healthcare, education and clean water for everyone – we all rely on the public services funded by tax.
Yet tax dodging by multinational corporations is driving extreme inequality, costing 110 developing countries about $172 billion globally every year. Due to Australian-based multinationals using tax havens, about $2.3 billion in tax revenue was ripped out of 46 developing countries (in 2014).
Read Oxfam’s new report: The Hidden Billions
It’s time for Australia to make tax fair.
Multinational companies operating in or from Australia must be required to make public, for every country in which they operate:
- Their sales, profits and taxes due and paid
- The physical assets they own, and
- Their number of employees
The Labor Party has committed to make large multinationals’ tax affairs public for every country they operate in. The announcement requiring public reporting on all Australian-based companies with a turnover above $1 billion would make Australia a world leader in tackling the tax dodging by multinationals.
To turn back the tide of extreme inequality, we must end the tax dodging of big business and the mega rich. Join us in calling on the Government to follow Labor’s lead and commit to making tax transparent at home and abroad.
Sign the petition to Make Tax Fair.