Detective' Campaigners to Launch 'Trace the Tax Campaign'

Issued by: Christian Aid Ireland and Debt and Development Coalition Ireland

'Detective' Campaigners to Launch 'Trace the Tax Campaign'

Irish justice groups, Christian Aid and Debt and Development Coalition Ireland will launch a 'Trace the Tax' campaign tomorrow, Thursday (28th), as part of their push for greater financial transparency by multinational companies. 'Sherlock holmes-like' campaigners will gather at the Spire on O' Connell Street in Dublin on Thursday at 11.30am which will be surrounded by hay bales to highlight how tracing lost tax from impoverished countries is like searching for a 'needle in a haystack'.

The campaigning groups are asking members of the public to help persuade two major multi-national companies based in Ireland - Vodafone and Unilever - to back their call for financial accounting reforms called 'country-by-country reporting' which will help impoverished countries collect more of the tax billions which are rightfully theirs.

Sorley Mc Caughey of Christian Aid said: 'Tracing the tax is like searching for a needle in a haystack - that is why we are asking Vodafone and Unilever to support our campaign for greater tax transparency, including our call for a new international accounting standard to ensure companies report on their profits made and taxes paid in every country where they operate. It is really important to stress that we are not accusing these two companies of tax dodging. In fact, we believe that they could be leaders in their sectors by encouraging other multi-national companies to support the campaign."

Nessa Ní Chasaide of Debt and Development Coalition Ireland added, 'International organisations such as the Organisation for Economic Co-operation and Development (OECD) recognise that tax dodging is likely to cost impoverished countries more than the total that they receive in aid in each year. It is therefore a matter of justice that everyone plays their part in supporting greater international tax transparency, including the Irish government, the International Accounting Standards Board, leading multi-national companies and the major accountancy firms."

The International Accounting Standards Board (IASB) is the body with the power to introduce country-by-country reporting. It is funded by the 'Big Four' accountancy firms - PricewaterhouseCoopers, KPMG, Deloitte and Ernst & Young - which have significant influence.
Mr Mc Caughey continued 'We believe that greater tax transparency will be good for us and good for business - and we are hopeful that these companies will agree with us. Taxes pay for roads and infrastructure essential to commerce. They create a healthy and educated workforce. Taxes also help to make governments more accountable and countries more stable - all of which would benefit companies doing business in impoverished countries.'

Christian Aid and DDCI have chosen to focus on Vodafone and Unilever because each of them is audited by one of the 'Big Four' accountancy firms. As well as asking the two companies to publicly support country-by-country reporting, Christian Aid and DDCI are calling on them to ask their auditor to support it too.

-Ends-

Notes to Editors

1. For more information on Christian Aid visit www.christianaid.ie
2. For more infotmation on Debt and Development Coalition Ireland visit: www.debtireland.org
3. Vodafone and Unilever are audited by one of the 'Big Four' accountancy firms - (Vodafone by Deloitte; Unilever by PricewaterhouseCoopers)