Letter: Tax secrets

This week, thousands of people in more than 20 countries will demand greater transparency and accountability from their governments and businesses.

The global End Tax Haven Secrecy week of action comes as the lack of transparency and the scandal of UK businesses hiding their profits off-shore are matters of increasing public concern.

A recent Organisation for Economic Cooperation and Development (OECD) report on implementation of its Anti-Bribery Convention was critical of the UK government, which has “ultimate and final responsibility” for crown dependencies and overseas territories – including a number of tax havens.

The secrecy offered by such havens can facilitate tax evasion, money laundering and other financial crimes.

In fact, we estimate it allows some unscrupulous companies to dodge $160 billion (£103m) in taxes each year in the developing world – far more than such countries receive in aid.

We call on our government to face up to its responsibilities and support the multilateral and automatic exchange of tax information between tax jurisdictions. In addition, the UK should support national public registries of the beneficial owners of companies.

This week, in support of the week of action, several Scottish members of the End Tax Haven Secrecy Network have added their names to letters to G20 ambassadors, urging them to ask their governments to play their part at the upcoming G20 meeting in Mexico this June.

We want to see more transparent accounting standards for multinational companies, requiring them to report the profits they make and the taxes they pay separately.

Only through strong, decisive action can we hope to end the damage caused by secrecy.

Kathy Galloway

Christian Aid, Scotland

James Picardo

Jubilee Scotland

Ellen Charlton

Justice and Peace Scotland

James Bryan

Scottish Education and Action for Development