Taxation and human rightss 2014, para. 69
Paragraph- Paragraph text
- Low tax demands of the financial sector and lack of regulation may therefore be indicative of a State's unwillingness (rather than inability) to use its maximum available resources. Increasing taxation of the financial sector could play a role in redressing this balance and discourage the excessive risk-taking that led to the crisis. Taxes on certain types of financial transactions have been introduced in various jurisdictions (including in India, Peru, South Korea and Sweden) as a way to raise revenue from the financial sector as well as to deter speculative trading activities that generate risks for the whole of society (in the form of crises or fluctuations in food/fuel prices). This measure could also enable States to better comply with several human rights obligations, in particular those regarding economic, social and cultural rights.
- Legal status
- Non-negotiated soft law
- Body
- Special Rapporteur on extreme poverty and human rights
- Document type
- Special Procedures' report
- Means of adoption
- N.A.
- Topic(s)
- Governance & Rule of Law
- Person(s) affected
- N.A.
- Year
- 2014
- Paragraph type
- Other
- Paragraph number
- 69
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