Financial Transparency Coalition

A complaint over tax payments by a Glencore subsidiary could prompt the Zambian government to undertake an audit of all mining companies to assess how much tax they owe The contrast between the poverty of most people in Zambia and the natural riches of our country was highlighted this week in an incident that is highly embarrassing for one of the companies profiting from our mineral wealth. The company - Swiss commodities giant Glencore - has just announced its intention to launch itself on to the London Stock Exchange. So it will have been less than happy...

The EU must prove itself as a promoter of development, by ensuring that more funds flow from the North to the South rather than vice versa. The case of tax-dodging Zambian copper mining company Mopani, shows that money from the ‘EU bank’ – The European Investment Bank (EIB) – continues to find its way into tax havens. The EU likes to purvey itself as a benefactor for the developing world. It is the largest ODA donor and proponent of many policy documents underwriting its engagement to promote sustainable development in developing countries. However, partly due to a...

Contact: Senator Levin’s Office Phone: 202.224.6221 U.S. Senator Carl Levin Introduces Nicholas Shaxson, Author of the New Book “Treasure Islands,” at the National Press Club Full Text, Speech as Prepared for Delivery Good morning. I’d like to thank Nick Shaxson and the Financial Accountability and Corporate Transparency Coalition for inviting me to discuss for a

I have the following article in the latest edition of the London Review of Books:

In his budget last month George Osborne announced that if in the future a UK company runs its internal banking arrangements through a tax haven subsidiary it will benefit from a special tax rate of just 5.75 per cent of the resulting profits. The rate is exceptionally low: the same activity undertaken in the UK is taxed at 23 per cent. It is a change that will delight corporate tax avoiders everywhere: the UK will now condone the use of tax havens in locations such as...