ECOFIN

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TOPIC 1: DESTABILIZING TERRORIST FINANCING METHODS

The 1993 and September 11 attacks on the World Trade Center, along with the Boston Marathon bombing and the 2016 Brussels bombing all share their classification as acts of terrorism, but more so, are united in the fact that they all required thousands of dollars to fund and execute. While the magnitude of the horrific consequences generated by the funds spent on these undertakings can not be underestimated, the money spent on these operations make up only a minimal amount of the budgets major terrorist organizations operate with yearly. Ranging from funds spent on training and weaponry, to those utilized to recruit new members and house existing ones, many of these groups require millions of dollars to function, a necessity that requires them to resort to a variety of funding strategies and options. These financing mechanisms are the ones this committee needs to discuss as to how to disable them effectively with the goal of limiting organizations that have proven time and time again, capable of great harm

STUDY GUIDE

TOPIC 2: TAX HAVENS AND CORPORATE TAX EVASIONS

The globalization of the world economy gave way to the international tax system. This committee will be addressing a flaw within this system, namely tax havens and corporate tax evasions. Tax havens are a financial technique of tax avoidance that are growing popularity as the offshore system grows. In 2018, it was estimated that governments collectively lost between $500 and $600 billion corporate tax revenue, of which low-income economies accounted for about $200 billion. Today, this presents an especially crucial issue as it directly targets governments public coffers, which are especially important in the current climate. Therefore, it is imperative this committee discuss the elimination of financial secrecy and offshore tax haven abuse that intensify global poverty.