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.