1. Tax competition Time for fundamental reform

2. Context
Without redoubling efforts to tackle inequality, world leaders will miss the goal of ending extreme poverty by 2030
768 million people under the extreme poverty line of US$1.90 a day (WB). 3bn below the „ethical poverty line‟
SDGs, FFD

3. Make tax FAIR:
Fundamental reforms needed to fix broken global tax system
Global tax rules have long been outdated and too complicated
Need for policy coherence for development (SDGs)
Importance of ability to hold companies & governments to account
Tax rule decision-making needs to be inclusive (tackle political capture)

4. Increasing acknowledgement: global tax rules are outdated, but lack of fundamental reforms
The success.. and failure of BEPS / ATAD
Blacklisting efforts
Addis Tax Initiative
Taxing the digitalized economy

5. Why the race to the bottom needs to be addressed.

6. Consequences of race to the bottom
Shift of tax burden, Lack of funding to achieve the FFD/SDG, unfair competition, undermining of social contract, and race to the bottom ‘leaves everybody at the bottom’.
Advocacy.nl
Critics poke holes into Kenya's Sh3.07 trillion budget even before it is read (Facebook/Daughters of Mumbi Global Resource Center). Business Insider by Pulse (12/06/2018)
$2.9 billion of potential revenues lost to questionable tax incentives - equal to about three times the country’s total health budget in Other revenues lost because some companies shift profits to (…) countries with low tax rates. At the same time aggressive taxation of the informal sector.. (Oxfam Inequality report Nigeria)

7. Solutions to end race to the bottom
Currently only short-term and often unilateral fixes seem to be on the table as lack of political support for more fundamental reforms.
A global solution is needed. Very relevant to developing countries.
More fundamental reforms need to be given more consideration.
Recommendations:
Acknowledge & address race to the bottom. CCCTB - minimum tax rate
Ensure inclusive global tax governance
Ensure public Country by country reporting