Video: Multinationals are depriving developing countries of their fair share of taxes

12 June, 2015

Eva Joly at the ICRICT panel in Trento, Italy

Eva Joly, French magistrate and politician for Europe Écologie–The Greens, speaks at the ICRICT panel in Trento, Italy on 2 June 2015.

Eva Joly talks about the timeliness of the ICRICT declaration, released 6 months after the Lux Leaks financial scandal revealed by a journalistic investigation. This has attracted international attention to the fact that multinationals around the world are paying less than 1% of taxes thanks to tax avoidance schemes.

Eva Joly tells us about the case of Iceland and the effects of the 2008 financial crisis, questioning the benefit for the Icelanders of the privatisation of their geothermal energy sector. She mentions the new profitable aluminium smelter owned by Rio Tinto Alcan, who does not pay taxes in Iceland. Around the world, multinationals are depriving developing countries of receiving their fair share of taxes. This situation is exacerbating inequality and injustice. We cannot wait any more, this problem of multinationals needs to be settled as well as the need for an agreement on climate change

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