Investors should make tax an ethical issue
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‘Along with traditional concerns such as involvement in tobacco, weapons and environmental issues, a company should also be assessed on its tax practices,’ says Dr David McNair, Christian Aid’s Principal Adviser on Economic Justice.
‘Companies should contribute to the societies in which they work. Paying tax is a major way in which they can do so, helping fund schools, hospitals and other essential public services.
‘To qualify as an ethical investment, Christian Aid believes a company must pay its taxes in a transparent way. This includes paying the taxes they owe in the countries where the work which generated the profits actually took place.
‘Some unscrupulous multinational corporations use the secrecy offered by the world’s tax havens to avoid, or even evade, the tax they owe, which has a particularly damaging impact on the poorer countries where they operate.
‘At present, we estimate that tax dodging by multinationals costs developing countries some
$160 billion a year in lost tax r...
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