Tax haven risks corruption, OECD warns Ghana

January 19th, 2010

West African state’s emergence as oil producer and offshore centre may fuel crime, says thinktank

The Guardian

Ghana has had a stern warning from the Organisation for Economic Co-operation and Development to ensure that its emergence as a tax haven does not fuel corruption and crime in west Africa.

Ghana is becoming an offshore financial centre but Jeffrey Owens, head of the OECD’s Tax Centre, said: “The last thing Africa needs is a tax haven in the centre of the African continent.” Ghana wants to become a west African financial hub, taking advantage of its emergence as an oil producer. This year the first of Ghana’s 3.2bn barrels will begin to flow from its waters.

Continue reading…

Written by admin

Follow @FinTrCo