Financial Transparency Coalition

Practice Costs Spain, Developing Countries Dearly in Much-Needed Tax Revenue A recent report by the Spanish observatory on Corporate Social Responsibility, which comprises several civil society organisations, reveals that ALL companies listed in the Spanish stock exchange operate directly or indirectly through jurisdictions which are considered opaque by the Financial Secrecy Index of the Tax Justice Network. The report entitled, “Corporate Social Responsibility in the annual report of companies in the IBEX35,” highlights that more than 80% of companies that are part of the benchmark stock market index (IBEX 35) in the Spanish stock exchange (the Bolsa de...