21 Nov 2017
2017/10 – Overseas Development Institute (ODI); research paper; Author(s): Paddy Carter - Details
Taxation is at the centre of global development policy. It is widely recognised that a major improvement in the ability of developing countries to raise tax revenues will be necessary, if not sufficient, to achieve the Sustainable Development Goals. At the same time, the tide of public opinion in Organisation for Economic Co-operation and Development countries continues to turn against tax evaders, and governments are introducing new legislation to crack down on tax evasion and avoidance, and increase transparency. The role that offshore financial centres (OFCs) can play in enabling tax evasion and avoidance is widely recognised, and it is easy to see why they attract such condemnation.
This report is concerned with the pragmatic consequences of the use of OFCs by Development Finance Institutions (DFIs) from a development perspective.