Event

Breakfast seminar: How to Stop Corporate Tax Evasion and Ensure Fair Global Taxation?

Every year, the world loses $311 billion as multinational companies—often entirely legally—move money to tax havens, even though the profits are earned in other countries.

26 September 2024

08:30 Europe/Oslo

Language: English

NUPI

Seminar

Themes

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According to the Tax Justice Network the world's poorest countries lose half of their healthcare budgets due to such tax evasion and other forms of tax manipulation. This also creates highly unfair competition for local and national businesses. How does this happen? How can we stop it?

The profits of the world's largest companies are often recorded in entirely different countries than where they have their sales, employees, and factories. Greater transparency about how these profit transfers occur is essential to addressing this issue.

Twenty years ago, the Tax Justice Network introduced the idea of country-by-country reporting (CbCR). Here, companies must publicly disclose key figures for each country in which they operate, allowing one to see whether value creation aligns with tax payments.

Over the years, many efforts have been made to introduce these reporting requirements. Norway has two parliamentary decisions awaiting follow-up, the EU introduced regulations that come into effect this year, and more and more investors want companies to voluntarily report on their tax practices. In 2023, Australia's new government launched the most ambitious regulations to date, which are being implemented this year.

One of the speakers at this seminar is Jason Ward. He is the lead analyst at the Centre for International Corporate Tax Accountability & Research (CICTAR) and a key figure in this work in Australia, will be visiting Norway to discuss how best to counteract the problematic effects of tax havens. While many other measures for fair taxation and financial transparency depend on international cooperation, CbCR stands out as particularly effective unilaterally. This is because the measures target companies, not countries. Thus, reports from companies’ activities in tax havens can be obtained without relying on results from forums where processes are delayed by those very tax havens.

Other panellists are:

Jonas Veland, Advisor, Tax Justice Norway
Heidi Finskas, Vice President Corporate Responsibility at KLP
Elisa Casi-Eberhard, Assistant Professor, Norges Handelshøyskole (NHH)

Moderator is Frida Kvamme, Senior Advisor at The Norwegian Tax Administration. This event is held at NUPI, and will also be live streamed to our YouTube channel. If you choose to follow us online, you should not register at the top of this page.

A light breakfast will be served from 08:00. The seminar starts at 08:30.