Leading Economists Jayati Ghosh and Joseph E. Stiglitz are appointed new co-chairs of ICRICT

The Independent Commission for the Reform of International Corporate Taxation (ICRICT) is honored to announce Jayati Ghosh and Joseph E. Stiglitz as the new co-chairs of the Commission. They will take over from José Antonio Ocampo, who steps down from his position as Chair following his appointment as Minister of Finance in Colombia.

Jayati Ghosh is a Professor of Economics at the University of Massachusetts Amherst. Before that, she taught economics at Jawaharlal Nehru University, New Delhi, for nearly 35 years.  Her research interests include globalisation, international trade and finance, macroeconomic policy, gender issues, poverty, and inequality.

Joseph E. Stiglitz is a Professor at Columbia University, the winner of the 2001 Nobel Memorial Prize in Economics, and a lead author of the 1995 IPCC report, which shared the 2007 Nobel Peace Prize. He was chairman of the U.S. Council of Economic Advisers under President Clinton and chief economist and senior vice president of the World Bank from 1997 to 2000.

The Commission welcomes the new co-chairs. Their vision and leadership will be crucial to further strengthen the global effort to see a fairer, more effective, and more efficient global tax system. Creating such a system is essential for inclusive and sustainable development.

ICRICT would like to warmly thank José Antonio Ocampo for leading its work since the inception of the Commission in 2015. His tireless efforts have been pivotal in positioning ICRICT as a major player in the battle against tax avoidance and tax evasion, and in promoting a wider and more inclusive discussion of international tax rules.

José Antonio Ocampo is now well-positioned to lead Colombia and Latin America toward a new wave of progressive tax reforms to reduce inequality and address the cost-of-living crisis, and a regionally coordinated initiative to put an end to tax havens.

Jayati Ghosh said:

“The massive inequalities inherent in the global economic system have been evident for a while, but they have been laid bare and intensified over the past two years with the Covid-19 crisis, the exploding cost of living, and the already devastating consequences of climate change. Yet, in the midst of all this, some corporations and wealthy individuals are doing better than ever profiting immensely from the very forces that have laid everyone else low and getting away from paying their fair share of tax. It was to put an end to this scandal that I became involved with the ICRICT, and it is now a great honour to lead the Commission alongside Joseph Stiglitz. More than ever, we must fight for a fair and equitable reform of the international tax system, one that truly takes into account the interests of developing countries, which are the most affected by all these global crises”.

Joseph E. Stiglitz said:

“In the face of the pandemic, climate change, spiralling inflation, and other global crises, governments are losing out on hundreds of billions of dollars in tax revenue because of tax evasion and tax avoidance. Since its creation in 2015, ICRICT has helped raise awareness about these particularly toxic aspects of globalization by proposing concrete solutions to make multinationals pay their fair share and to put an end to tax havens. I am delighted to be able, alongside Jayati Ghosh, to continue the extraordinary work started by my friend José Antonio Ocampo as head of the Commission”.

About ICRICT:

The Independent Commission for the Reform of International Corporate Taxation (ICRICT) aims to promote the international corporate tax reform debate through a wider and more inclusive discussion of international tax rules than is possible through any other existing forum; to consider reforms from a perspective of public interest rather than a national advantage; and to seek fair, effective and sustainable tax solutions for development.

(This article was originally published in ICRICT on September 8, 2022)