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18.06.2013 11:49 Age: 2 yrs
Category: Press Releases

Historic G8 Summit Tax and Transparency Declaration


June 18, 2013




Historic G8 Summit Tax and Transparency Declaration


Jubilee USA Praises G8 Commitment to Curb Corporate Tax Avoidance


WASHINGTON, DC - Today, G8 Summit leaders released a historic declaration that promotes corporate transparency and calls on all countries to "fight the scourge of  tax avoidance." The G8's Lough Erne Declaration notes that wealthy countries have a responsibility to ensure that multinational companies don't dodge taxes in poor countries. The G8 leaders also noted how important it is to stop corruption within the oil and extractive industry sector.


Eric LeCompte, Executive Director of Jubilee USA Network, a religious antipoverty organization, releases the following statement:


"The G8's declaration is absolutely historic. What the UK, US and other G8 countries have done to address corporate tax avoidance and transparency is absolutely incredible. Three years ago when Jubilee USA and a few partners were focusing on these issues - I never would have believed that just a few years later the G8 would be addressing these systemic causes of poverty. 


"The G8's work to curb corporate tax avoidance is awesome. I think we would like to see even greater moves for corporate transparency, but the foundation the G8 built will take us into a more accountable corporate world then we've seen before.


"Developing countries lose more in corporate tax avoidance than they receive in aid. The G8's work can provide a basis that could allow developing countries to collect what corporations owe them."


Read the Lough Erne Declaration here.


Jubilee USA Network is an alliance of more than 75 US organizations, 250 faith communities and 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people.  www.jubileeusa.org

Available for interview: Eric LeCompte, Executive Director

Contact: Jennifer Tong, Communications Director

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