Nov 6th, 2017
Paradise Papers: Tax Dodging
By Becca McCarthy
It’s a scandal. A massive leak of documents splashed across the papers shows exactly how the rich get away with hiding their money overseas to dodge tax. [1] That means our hospitals, schools and public services are missing out on millions.
For years the government has promised to crack down on tax dodging, but they’ve let it slip off their to do list, saying that it’s really complicated. [2] Now they have a real scandal on their hands. The Prime Minister’s already being pressured to do something. [3]
Experts at ‘Tax Justice UK’ have a list of very simple things that Theresa May could do to stop tax dodging. 38 Degrees have teamed up with them to launch a petition asking Theresa May to crack down on tax dodging. If thousands of us sign, it’ll show her that we’re not going to let tax dodging carry on any longer – we expect an actual crack down and not more warm words.
Will you sign the petition to demand the government cracks down on tax dodging? Once the petition hits 100,000 signatures it’ll be sent straight to Number 10.
The leak, known as the ‘Paradise Papers’, has sent shockwaves all over the world – and the UK’s right in the eye of the storm. Businesses and wealthy individuals here are one of the biggest users of offshore tax havens. What’s more, some of the most popular destinations for the wealthy to hide their money are British territories, like Bermuda and the Cayman Islands. [4]
There will be crisis meetings going on right now about the Paradise Papers in plush offices across the country. Powerful tax dodgers will be doing everything they can to shut down this story. But if thousands of us sign the petition today, we can makes sure this stays at the very top of the government’s agenda.
The good news? 38 Degrees members have campaigned to close tax loopholes before and won. In 2015, we crowdfunded a tax expert to find a way of clamping down on tax dodging. Together we exposed the “Mayfair Loophole”. We used our people-powered voice to force the government to close part of the loophole and bring millions of pounds back to the UK. [5]
NOTES:
[1] The Guardian: Paradise Papers investigation:
https://www.theguardian.com/news/series/paradise-papers
BBC: Paradise Papers: Tax haven secrets of ultra-rich exposed:
http://www.bbc.co.uk/news/uk-41876942
The Guardian: What are the Paradise Papers and what do they tell us?:
https://www.theguardian.com/news/2017/nov/05/what-are-the-paradise-papers-and-what-do-they-tell-us
[2] The Times: Theresa May promised tax crackdown — a year ago:
https://www.thetimes.co.uk/edition/news/may-promised-tax-crackdown-a-year-ago-cn2l23gsd
The Guardian: Theresa May refuses to promise register of offshore trusts:
https://www.theguardian.com/politics/2017/nov/06/paradise-papers-theresa-may-refuses-to-promise-register-of-offshore-trusts
This article, by a professor at the University of Essex, talks about the things the government could do to tackle tax dodging:
The Guardian: Britain can tackle tax avoidance. But it has repeatedly failed to do so:
https://www.theguardian.com/commentisfree/2017/nov/06/britain-tackle-tax-avoidance-repeatedly-failed-paradise-papers
[3] BBC: HMRC asks to see Paradise Paper leaks:
http://www.bbc.co.uk/news/uk-41883472
[4] The Guardian: What are the Paradise Papers and what do they tell us?:
https://www.theguardian.com/news/2017/nov/05/what-are-the-paradise-papers-and-what-do-they-tell-us
[5] 38 Degrees: Mayfair Tax loophole:
https://home.38degrees.org.uk/?s=mayfair+loophole
