Globally, about $172 billion* is ripped out of developing countries due to tax dodging every single year.
Australian-based multinationals contribute about $2.3 billion of this staggering figure.
That's money that should be put into schools, hospitals and live-saving water for kids like Rebecca in Papua New Guinea (pictured).
Secret 'tax havens' lie at the heart of this unfair tax system.
They allow corporations to hide income and wealth offshore, untaxed and out of reach of tax authorities and regulators. They deprive governments of the resources they need to provide vital public services, like health and education, which are necessary to tackle spiralling inequality.
But despite talking tough on tax dodging, neither party has done enough to stop the use of 'tax havens'. The government must close loopholes in legislation that allow multinational corporations to get away with not paying tax here and abroad. Crucial to this is tax transparency – corporations must fully disclose their profits and taxes publicly, for every country in which they operate.
Tell Treasurer Scott Morrison that the current policies don’t go far enough – act now to Make Tax Fair
Globally, multinationals are ripping US $172 billion* of tax revenue out of developing countries. Revenue needed for essential services that fight poverty and inequality.
By using tax havens, Australian-based multinationals deprive developing countries of around $1.5 billion that could have been spent on health, water & sanitation (over the next five years).
Over $2.1 billion could have been spent on education for kids in developing countries (over the next five years) if Australian-based multinationals didn’t dodge tax.