Tax waiver to MNCs is self defeating
20 March 2015
Staff Report :Tax Justice Network, a UK based global alliance in a report publish on March 18 denounced the 10 reasons that the multinational corporations (MNCs) are pushing on the LDCS and developing countries to give tax waiver to corporate bodies while suggesting more tax on poor can overcome revenue shortfall EquityBD, which an ally of the network from Bangladesh is similarly opposed to the push to give tax waiver to corporate bodies and such support the rich policies, as such actions would only make the poor poorer to multiply social and income inequality. Big Multinational Corporations (MNCs) across the world make profits beyond imagination in developing countries. These corporations control the governments in subtle way and demanding tax waiver ignoring the negative impact of such policies in the society.But international financial institutions like World Bank and IMF are supporting such policy advocacy by way of their advice to increase the rate of VAT which is applicable to all items of livelihood and to be more payable by the poor than the rich.
