Financial Transparency Coalition

LONDON - Global Witness is today calling on Glencore to explain potentially corrupt deals in the Democratic Republic of Congo, and is calling on the company to provide more details about its relationship with an Israeli businessman who is key to its substantial mining investments in the country. The concerns, detailed in a briefing for Glencore’s shareholders, are being published on the day of the company’s first AGM as a publicly listed company.

This report is part of an initiative to create a comprehensive, and globally representative series of country reports that touch on diverse tax justice issues. The production of this report is the collective effort of all of the organisations involved. The Tax Justice Network promotes transparency in international finance and opposes secrecy. TJN was initiated at in 2002, and is dedicated to high-level research, analysis and advocacy in the field of tax and regulation. Tax Justice Network Africa was launched in 2007 with the aim of bringing tax issues to the foreground of the broader development agenda. We work to...

This fall is shaping up to be a critical season for financial transparency. As the Task Force on Financial Integrity and Economic Development prepares for its annual conference on October 6-7, key decisions on country-by-country reporting are anticipated in the U.S. and from the European Commission. Meanwhile, international attention to tax loss facilitated by financial secrecy continues to grow as the global economic crisis drags on. Recently, PWYP Norway’s Piping Profits report highlighted the role regulatory gaps can play in shaping the tax strategies of multinational companies, often to the fiscal detriment of the countries they operate in. The report...

WASHINGTON, DC – One year out from passage of the Dodd-Frank Wall Street Reform Act and three months after it was supposed to come into effect, a key anti-corruption and transparency measure—the Cardin-Lugar provision (Section 1504)—is still sitting on the Securities and Exchange Commission’s (SEC) drafting board. The provision to require oil, gas, and mineral companies to disclose payments made to foreign governments is considered an historic move towards shedding light on the operations of a multi-billion dollar industry.