Given the major role that tax revenues play in funding development efforts – providing two-thirds of the financing for the UN Millennium Development Goals, with official aid and private flows covering the rest – the bleeding must be stanched. As world leaders gear up for this month’s Third International Conference on Financing for Development (FFD3) in Addis Ababa, where they will develop a strategy to fund the post-2015 global development agenda, a move toward a more efficient and equitable global tax system could not be more urgent.