Monday, December 08, 2008

Transparency International supports country-by-country

Transparency International has issued a short policy note, in the context of the latest Doha conference on financing for development, backing action against tax havens and supporting the notion of country-by-country reporting which TJN's senior adviser Richard Murphy has been pushing.

One section of its note said:

Developed countries must break with business as usual and clamp down on illicit activity enabled by off-shore financial centres and tax havens. Current practices are unacceptable and criminal.

Strong stuff! The key point here is that the focus is put on developed countries, whereas in the past the focus was badly skewed towards getting developing countries to change, and giving the developed nations and tax havens a free pass. So we very much like Transparency International's latest point. They add:

Companies, particularly when operating in resource-rich countries, must ensure transparent reporting and information disclosure. This includes country-by-country reporting of operating results.

This is essential too. Read more about this crucial issue by clicking here and scrolling down to the Country-by-Country section.


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