PWYP Norway is the Norwegian chapter in a network of around 800 organisations from about 70 countries worldwide. We work for financial transparency in the extractive industry to promote sustainable societies.
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The OECD has invited interested parties to send comments on a discussion draft, which includes the preliminary results of the work carried out in three different areas on tax-policy. Publish What You Pay Norway has used the opportunity to send in comments.
PWYP Norway has sent a consultation comment to International Monetary Fund (IMF) and challenges definitions used by IMF on tax-issues. IMF has invited governments, civil society, academics and private sector stakeholders to comment on the topic.
Summary * Extractive industries are big users of a financial instrument called derivatives, which can be abused to transfer revenues out of host countries before it is taxed.* The value behind all derivatives is 10 times the world GDP.* One simple policy proposal can be enacted upon unilaterally to stop abuse, while protecting proper use of these instruments. Read the short 4-page briefing of the report.