Financial Transparency Coalition

In June of this year, the U.S. Senate published a report evaluating U.S. foreign assistance to Afghanistan that emphasizes the unsustainability of the current foreign assistance strategy. Of particular interest is the key point that the “U.S. government relies heavily on contractors in Afghanistan, but multiple reports have raised alarms about the lack of robust oversight and accountability for multi-billion dollar investments.” The reality is that when these private companies are found guilty of corruption, the consequences, if any, are low.

EURODAD recently held a roundtable in the European Parliament on 21st November to launch its new report “Exposing the lost billions. How financial transparency by multinationals on a country-by-country basis can aid development." This report explains why under current accounting regulations it is so easy for multinational companies to dodge taxes and proposes full country-by-country reporting as a key solution.

Critics Target Bribery Law The Wall Street Journal, November 28, 2011 France: A vampire and a deposit box for Africa’s looted funds? Modern Ghana, November 23, 2011 ‘Tackle Tax Havens’ campaign launched The Telegraph, November 25, 2011 Counting the cost of tax havens The Sydney Morning Herald, November 26, 2011 Occupy London sets out agenda

The new site Tackle Tax Havens is now live. Aimed at the non-expert, we expect it to become a key tool. Click here. And watch the video.