Financial Transparency Coalition

As Richard Murphy pointed out in his blog today, the Financial Times wrote an article today about Christian Aid‘s efforts on the issue of country by country reporting.  From the Financial Times:

Supporters of Christian Aid are sending postcards and e-mails to the heads of the accounting firms demanding changes to international rules. The campaign is designed to tackle what it views as tax abuses that drain developing countries of revenue.

Dave Hartnett, permanent secretary at the Revenue, told a press conference in Paris last week that it was “an idea that is gathering momentum”.

“There is a growing recognition that country-by-country reporting brings additional transparency, particularly in relation to how multinationals are operating in emerging and developing countries,” he said. But he added that the issue had not been debated at the two-day meeting of 34 tax authorities on evasion and avoidance.

This is a major step in the right direction, and Christian Aid should be proud of what it’s accomplished.  Keep up the good work!