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June 5, 2023

Tax Justice Around the World #3 | Highlights from GATJ Members

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Last week, among the activities of the Global Alliance for Tax Justice (GATJ)’s members: a conference on finance for reparations, equity and systems change in Asia, the call for a UN Tax Convention in Africa, an opportunity to learn more about feminist economics in Latin America, and tax transparency discussions in North America. Check out all the highlights:

Asia

Asian Peoples’ Movement on Debt and Development (APMDD) had their first reunion after the pandemic in the “Asian Finance Conference: Finance for Reparations, Justice, Equity and Systems Change” from 31 May to 2 June, in Manila (Philippines).

Participants discussed several issues, including tax and illicit financial flows, climate finance and clean energy, and demands for social and economic development in the Global South.

The tax-related discussion included the demand for wealth taxes and the support for a UN Tax Convention as two major steps towards transforming the current unequal international tax system.

Africa

Tax Justice Network Africa (TJNA) attended the African Union 2nd Sub-Committee on Tax and Illicit Financial Flows (IFFs) of the Specialised Technical Committee on Finance, Monetary Affairs, Economic Planning and Integration, in Addis Ababa (Ethiopia). The meetings took place from 31 May to 2 June.

TJNA’s acting executive director Chenai Mukumba (see featured picture) joined a panel discussing the UN Tax Convention, focusing on challenges and opportunities for Africa. Experts, policy-makers and stakeholders participated in the panel to address challenges posed by IFFs, and paths to strengthen tax cooperation in the region.

The network also celebrated the positive impact of a bill pushed by them and other civil society organisations, and recently passed into law in Ghana. 

They released a video explaining the importance of beneficial ownership and its key role in promoting transparency and accountability, combating corruption, and creating a more inclusive global economy. Watch it on TJNA’s Youtube channel.

Lastly, a job opportunity alert: TJNA is looking for a consultant to conduct a mid-term review of their 2021-2025 strategy plan. Applications close on 9 June. Find here more information on requirements and how to apply.

Latin America

A delegation of Red de Justicia Fiscal de América Latina y el Caribe (RJFALC), Latindadd and GATJ went to Cuba last week for several meetings with Cuban authorities and the Cuban Workers Organisation (Central de Trabajadores Cubanos). Cuba assumed the pro tempore presidency of the G77 and China in January this year.

Latindadd is offering a free online course on feminist economics with perspectives from Latin America. Applications are open until 14 June, and classes start on 28 June. See the full program and apply on Latindadd’s website.

Latindadd is also co-organising the webinar “Funding for Colombia’s fair energy transition: opportunities and challenges”, which will be held only in Spanish. Carola Mejia, climate finance analyst at Latindadd, will integrate the panel discussion, which will be transmitted online via zoom. Register here.

North America

In the U.S., the Financial Accountability and Corporate Transparency (FACT) Coalition submitted a comment about the Financial Accounting Standards Board’s (FASB) proposed revisions to income tax (Topic 740). Whilst they consider the initiative a step forward for tax transparency, they presented a few questions and concerns about it.

“While FACT is encouraged by FASB’s recognition that existing income tax disclosures do not provide sufficient detail for investors to assess global tax and other operating risks stemming from the international practices of multinational enterprises (MNEs), the proposed revisions to Topic 740 fall short of providing a clear, complete picture of a given MNEs tax activities and potential exposures”, stated FACT’s executive director, Ian Gary, and government affairs director, Erica Hanichak, in the letter. Read the full document.

Tax transparency has been a topic in Canada, too. DT Cochrane, economist and researcher at Canadians for Tax Fairness (C4TF), spoke on a webinar hosted by the Canadian Capital Stewardship Network discussing why investors should care about tax transparency. The webinar recording is available here.

Photo credit: Tax Justice Network Africa/Twitter