”The key word is tax”


Unless there is political will at the very top, the global standards will not lead to anything.”, former Minister for Development in Norway, Erik Solheim, now chair of the OECD Development Assistance Committee (DAC), stated in an address to the global EITI conference held in Sydney this week.

”The mobilisation of political will is the core issue if we are to move ahead. The world is more prosperous than ever, so many nations have moved ahead. The common denominators are hard work, smart organisation and strong markets, he said. "The key word", he stated, "is tax", while emphasizing a new OECD initiative in the area of tax collection:

Tax Inspectors Without Borders. "If leaders in developing nations really want to look into mining contracts and see if they are fair in a global standard; how can they know? Only the best expertise will know. There is a need to look into how companies move profits around the world in tax havens", Solheim said.