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Valpy FitzGerald speaks at UK Global Tax Transparency Summit
Emeritus Professor Valpy FitzGerald was among the speakers at a summit hosted by the UK Parliament’s Public Accounts Committee (PAC) on 9 December that brought together parliamentarians from around the world to discuss the promotion of tax transparency and the prevention of tax avoidance.
According to Meg Hillier MP, PAC Chair, the aim of the Global Tax Transparency Summit was to ‘demonstrate a commitment to holding governments to account on tackling tax avoidance and promoting tax transparency.’
Professor FitzGerald spoke at a plenary on The Impact of Tax Avoidance on the Developing World.
The summit concluded with signature of a concordat calling on governments to support greater tax transparency by multinational companies.
Central to the concordat was an agreement on support for public 'country-by-country reporting' to show, for each tax jurisdiction in which multinationals do business, their revenue; their profit before income tax; the income tax paid and accrued; total employment; capital; retained earnings, and tangible assets.
Among other speakers at the summit were Pascal Saint-Amans, Director of the OECD's Centre for Tax Policy and Administration; Alain Lamassoure, MEP, Chair of the EU TAXE2 Committee; Luigi de Maio, Vice-President of the Italian Chamber of Deputies; Edward Troup, Executive Director of HM Revenue and Customs; Hans Christian Holte, Director General of the Norwegian Directorate of Taxes; and Alex Cobham, Chief Executive of the Tax Justice Network and a former ODID research officer.