Financial Transparency Coalition

A recent conference at Wilton Park addressed the largely neglected issue of domestic resource mobilisation in Sub-Saharan Africa. Tax Justice Network argues that domestic resource mobilisation should be the core of development strategies for most countries, but common sense has been in scarce supply in recent decades, largely pushed to one side to make way for the tax-cutting and privatising agenda of big companies and the western governments who serve their interests. So this conference was a welcome event, and we are pleased to report that the outcome document...

The Task Force on Financial Integrity and Economic Development called on the International Accounting Standards Board (IASB) this past week to adopt Publish What You Pay's (PWYP) proposal to require a country-by-country reporting standard in the extractive industries (oil, gas and mining). The standards proposed by PWYP (and supported by the Task Force and many other NGOs) would require companies to disclose the payments they make to the governments in which they operate. These standards are vital in assuring that multi-national corporations (MNCs) pay a just amount of taxes and that payments made between their subsidiaries are both...

U.S. President Applauds New SEC Reporting Requirement, Vows to Campaign for Adoption of Similar Global Regulation Last Wednesday, as President Obama’s signature graced the Dodd-Frank Wall Street Reform and Consumer Protection Act, the long-awaited overhaul of the financial regulatory system finally became the law of the land. This included a small but important provision, the Energy Security Through Transparency (ESTT) amendment, which is designed to increase transparency in extractive industries by requiring oil, gas, and mining companies registered with the Securities and Exchange Commission...

The official statement by the White House Press Secretary on the Energy Security through Transparency (ESTT) provisions within the Wall Street Reform and Consumer Protection Act.