Even with
global inequality at historic highs and corporate tax evasion in the
public spotlight, a new report out Monday shows how a so-called free
trade deal between the U.S. and European Union could further threaten
tax justice, hampering governments’ ability to ensure that critical
public services are well funded or to pursue progressive tax
practices.
According to
the London-based Global Justice Now and the Netherlands-headquartered
Transnational Institute, the TransAtlantic Trade and Investment
Partnership (TTIP) “would massively increase the ability of
corporations to sue member states of the EU over measures such as
windfall taxes on exceptional profits, or use of taxation as a policy
instrument such as a possible ‘sugar tax’.”
“Despite
the enormous public outcry over companies like Google and Amazon
paying ridiculously small amounts of tax in the UK, the government is
trying to sign us up to a trade deal that could effectively prevent
us from bringing about laws that could address tax injustice,”
said Global Justice Now executive director Nick Dearden on Monday.
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