Make Tax Fair
When everyone contributes their fair share of tax, we all benefit.
Roads are built, children can go to school, and medical care is available to everyone who needs it.
But some rich multinationals are turning their backs on our communities by unfairly avoiding their fair share of tax. In Oxfam’s recent report into this issue, Prescription for Poverty, it was revealed that four major pharmaceutical companies — Johnson and Johnson, Pfizer, Merck and Co and Abbott — were systematically stashing profits in tax havens, avoiding an estimated $146 million in taxes owed to seven developing countries.
Just like in Australia, developing countries need tax revenue to pay for essential public services like healthcare, education and clean water for everyone. But when multinationals don’t pay their fair share of tax, they make it much harder for developing countries to build stronger and healthier communities.
Globally, multinationals are stealing USD$172 billion from developing countries every year. Australian-based multinationals are responsible for USD$2.3 billion of this staggering figure.
Tax avoidance is reprehensible but these companies are not necessarily breaking any laws. That's why we are asking the Australian government to change the rules, making it harder for companies like Johnson & Johnson and Pfizer to avoid paying the taxes they owe.
When multinationals contribute their fair share of tax, people living in poverty have a better chance to build a better future – for themselves and their families. It would be small change for rich multinationals but it would make a big difference for people in the world’s poorest places. The Australian Government has the power to make multinationals pay tax and help prevent extreme inequality from spiraling out of control.