The recent financial crisis has highlighted once again the pernicious role played by tax havens in the global economy. Tax havens aggravate financial crises and contribute to its gestation, increasing financial instability and its effects. They are a tool that sharpens inequality and poverty, distorting tax systems of all countries and depriving them of the necessary income to maintain proper levels of public services. Tax havens enable and protect financial crime, thanks to their high degree of opacity and lax financial regulation; and they undermine democracies by conditioning the behavior of countries with respect to economic policy. Finally they are the preferred space used by financial instruments and transactions that have increased quantitatively and qualitatively the power of finance to the detriment of the real economy and of the States and their democracies.
The struggle against tax havens requires much greater force, while simultaneously needing much more precise and comprehensive definition of what really are these tax shelters currently held by the main international organizations.
Along with the establishment of taxes on speculative capital transactions, the abolition of tax havens is one of the unmistakable signs of identity of ATTAC. For the same reason ATTAC proposed the establishment of the “World Day for the Abolition of tax havens” for the day June 10th, we propose to make a global call to civil society to demonstrate publicly to demand their unmitigated elimination on this day.
The objectives are as follows:
1. To remind world public opinion of the existence of “tax havens.”
2. To inform and sensitize the people about this international scourge.
3. To mobilize public opinion with the aim of pressuring the parties, governments and international political institutions towards their complete elimination.
4. To report and to disclose a complete and accurate list of existing tax havens, where they are residing and the role of each in the global economy.
5. Report and make public the names of companies and individuals that make use of such financial spaces.
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