Why do the same Always pay? Tax Havens
Damage 1: Spoliation
As it often happens, some Countries produce wealth
and others account for it
which gives base to inconsistent statistics.
Did you know that the major banana importer in Europe is the Island of Jersey?
or that, in the last ten years, half of direct investments in India
come from the Mauritius Islands?
But this disconnexion between real economy and accounting
has its consequences.
A real country is not an inhabited isle
it works with revenues and expenses
If revenues decrease, extra funds must be found
or expenditure must be reduced.
When a Country cannot get enough income
there is deficit, and credit is called for. That is,
debt is issued to balance accounts.
In Spain due to the crisis, incomes have decreased
and for that reason VAT Tax was increased and, since that was not enough
social aids and investment have also decreased
and, how is the task finished off?
well, the European Union limits the issue of debt
and so, deficit cannot be balanced.
Thus, social expenditure will be further reduced, such as education and
health service, as well as investments
Whilst this is happening, there're a lot of corporations and large fortunes
as well as people, who hide their funds in Tax Havens
and this fraud is increasing
Corporate tax revenue has fallen in recent years a 55%
while the profits of companies in the Ibex 35
fell only 14%.
In 2009, already 80% of companies in the Ibex 35
had funds in Tax Havens
Each Euro not paid by a tax payer because he evades his money
to a Tax Haven, is a further Euro
to be paid by either honest tax payers, or the State will reduce expenditure
Tax Havens reduce Countries' incomes
and thus, Social Benefits and Investments.
And this is how the crisis grows, as well as unemployment and poverty
This situation is aggravated in developing countries
where tax evasion by multi-national corporations costs every year
more than one hundred billion dollars
more than the global budget on development aid
Those who invest in Tax Havens are not exotic people who park their money in
a Caribbean island
they are people and corporations who take advantage of their countries'
infrastructures without paying for them.
Eliminate the opacity of Tax Havens
tax capital movements
Eliminating advantages of having funds in Tax Havens
are necessary steps so our corporations and largest fortunes
pay their taxes.
If you believe that major evaders should pay their taxes for the survival of social welfare
If you believe that the opacity of Tax Havens must be eliminated
Sign on www.noalosparaisosfiscales.org