Mauritius Leaks: Global tax system is corroded beyond use – Tax Justice Network response

PRESS OFFICE

Mauritius Leaks: Global tax system is corroded beyond use – Tax Justice Network response

Commenting on the Mauritius Leaks, Chief Executive at the Tax Justice Network Alex Cobham said:

“The revelations coming out of Mauritius are yet more proof of the fact that the international rules we have for taxing multinational corporations and wealthy individuals have been corroded beyond use. Mauritius is the 14th most corrosive corporate tax haven in the world, as ranked by our Corporate Tax Haven Index, putting the island on a long list of jurisdictions that have been left to line their own pockets at the expense of other governments’ ability to pay teachers’ wages, build hospitals and ensure a level playing field for local businesses.

“What makes law firm Conyers Dill & Pearman’s deplorable behaviour more outrageous is that this behaviour is the norm not the exception – roughly $500 billion is dodged in tax each year globally by multinational corporations. Shutting down one law firm won’t stop dishonest corporations and individuals from finding another loophole or shady secrecy jurisdiction to slither into. We’re calling for a UN convention that makes sure all jurisdictions uphold their duty to be tax transparent.”

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Contact the press team: [email protected] or +44 (0)7562 403078

Notes to editor:

  1. Mauritius is the 14th most corrosive corporate tax haven in the world, as ranked on our recently released Corporate Tax Haven Index, because despite being a small player globally, its policies are very aggressively focused on undermining corporate taxation in other countries by attracting profit shifting.
  2. Mauritius is among the most aggressive corporate tax havens towards African countries. Mauritius is responsible for large revenue losses across the continent, as foreign investors channel their holdings in African countries through the Mauritius’ network of tax treaties.https://www.taxjustice.net/2019/06/18/%ef%bb%bfhow-can-africa-take-action-against-corporate-tax-havenry-solutions-from-the-corporate-tax-haven-index-2019/
  3. Mauritius is one of the most financially secretive jurisdictions in the world. The island has one of the highest Secrecy Scores recorded on our Financial Secrecy Index – a score of 77 out of 100
  4. Globally, Mauritius is a small player and should not be singled out. Global solutions are needed. We propose a UN tax convention which would require all jurisdictions to deliver, at a minimum, the ABC of tax transparency: automatic exchange of information, beneficial ownership transparency and country by country reporting.
  5. For more information on Mauritius, please see our briefing, “#MauritiusLeaks Primer: What to know about corporate tax haven Mauritius”