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ID:
148683
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| Summary/Abstract |
Aggressive tax planning by multinational enterprises (MNEs) costs EU member states between €50-70 billion and €150-190 billion per annum through base erosion and profit shifting (BEPS). This tax gap has been blamed on ‘unethical’ companies acting legally, but inappropriately. Action to curtail this behaviour has been made possible by the confluence of two powerful movements: a popular articulation of tax morality as it relates to MNEs and the high issue salience reached as a consequence of the financial crisis and austerity in Europe, an emerging discourse around tax morality, and the efforts of prominent whistleblowers. As a result, domestic governments have removed their ‘soft’ veto and facilitated supranational bodies in innovating on corporate taxation, helping to rebalance the technical and structural superiority of MNEs in the international tax system.
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| 2 |
ID:
144911
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| Summary/Abstract |
The G20 is in transition from a short-term crisis institution to long-term steering institution, adopting a new ‘G20 + established international organization’ governance approach. In this approach, the main role of the G20 is to set the agenda and build political consensus for global economic governance. The established international organization provides the technical support and facilitates proposal implementation, while the precondition for the G20 institutional transition is that the emerging economies need to participate on an equal footing with the advanced economies. The case of global tax governance is among the few success stories of the G20's institutional transition. Within the ‘G20 + OECD’ governance architecture, the G20 builds the political consensus that the profits should be taxed where they are performed, while the OECD proposes the technical Base Erosion and Profit Shifting Action Plan. In this way, the G20's political leadership and the OECD's technical advantage complement each other, making a giant leap in global tax governance.
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