Financial Transparency Coalition

LONDON – With Colonel Gaddafi’s 42 year dictatorship apparently drawing to a close, the Libyan National Transitional Council (NTC) and supporting countries must put measures in place to guard against a Libyan “oil grab” and ensure the Libyan people benefit fully from the exploitation of Libya’s natural resources, said Global Witness today.

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.

JUBA, South Sudan – The new state of South Sudan must guarantee transparency and accountability in its oil sector in order to demonstrate its commitments to sustainable development and combating corruption, said Global Witness today. The call comes on the eve of the South’s independence from the north on July 9.

‘We don’t care how much tax we pay, as long as you tell us how much it is, let us pay it and leave us alone’ Perhaps not what you might expect to hear from the head of tax from a major global bank. But as the most influential tax professionals from across America gathered in DC to discuss the latest developments in business taxation with the OECD, simplicity and certainty was the resounding call from business. The OECD is looking for its place in the world, and it’s pretty clear that this “rich countries’ club” is not as dominant as...