The drive for country-by-country reporting will force transnational businesses to disclose the amount of tax paid in each country

Guardian

You are an opposition politician in a developing country rich in minerals. You want to establish exactly how much tax is paid and what profits are made by a giant mining corporation. The trouble is you can’t. In fact nobody can.

In poorer countries, companies have no obligation to disclose any of this information. Secret mining concession deals are often made between companies and corrupt politicians. Civil society does not get a look in so governments cannot be held to account.

Continue reading the article at Guardian.co.uk…

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This entry was posted on Monday, June 15th, 2009 at 5:53 pm and is filed under Issues in the News, Media, News.