Oxfam reaction to G20 declaration on international tax cooperation

Responding to the G20 Declaration on International Tax Cooperation, published on July 26, 2024 today, Oxfam International's Policy Director for Tax Policy Susana Ruiz said:

"This is serious global progress - for the first time in history, the world's largest economies have agreed to work together to tax the ultra-rich. Finally, the richest are being told they can't game the tax system or avoid paying their fair share."

Susana Ruiz, Oxfam International's Policy Director for Tax Policy

"Governments have for too long been complicit in helping the ultra-rich pay little or no tax. Massive wealth gives the world's ultra-rich disproportionate influence and power, which they wield to protect their wealth, undermine democracy and increase inequality."

"Now for the next step: at the G20 summit in November this year, world leaders must go beyond their finance ministers and endorse concrete action: agreeing on a new global standard that taxes the ultra-rich at a rate high enough to close the gap between them and the rest of us."

"Brazil has kick-started a truly global strategy to tax the ultra-rich. But the work is just beginning and international cooperation is crucial."

"We call on G20 leaders to align themselves with the progress being made at the UN and establish a truly democratic process to set global standards for taxing the ultra-rich. Entrusting this task to the OECD - the club of mostly rich countries - would simply not be good enough."