In January, a new legislation will be introduced in Norway that might prevent capital flight and ensure a greater degree of transparency. Three activists from the civil society in South Sudan, Uganda and Ghana explain why this law is vital for their work. See the video interview!
Snorre Valen (SV - socialist left) presented a suggestion to Parliament concerning a measure against a black economy and tax evasion. Poto: Stortinget (CC BY 2.0) Flickr
The litmus test is served. Snorre Valen (SV) asks politicians in Parliament to sign a representative proposal for extended country-by-country reporting. Since the Panama Papers, this is one of the most important measures which is not in place yet. The reason for this is the lack of follow-up by the Ministry of Finance on country-by-country reporting for accounting purposes.
The consequence is that companies are not required to give information from tax havens, because payments to such places will be less than NOK 800,000, writes Mona Thowsen in the opinion piece. Photo: Kathie M Ceballos CC BY-NC-ND 2.0 Flickr
The Ministry of Finance has not followed up on Parliament´s request, so Norwegian companies do not have to submit information from tax havens.
Thick walls at the Ministry of Finance. Foto: Helge Høifødt
Right before Christmas Eve, on December 22, the Ministry of Finance established changes to the amendment concerning country-by-country reporting (CBCR), without Parliament having dealt with the matter.
The Ministry of Finance. Photo: Christian A. Calmeyer (CC BY-NC-ND 2.0)
PWYP Norway explains how the protection of tax havens can be repealed by removing a link between two paragraphs.
Knut Falk Qvigstad´s (MDG - Norwegian Green Party) input on the interpellation, points out what information society needs in order to keep their authorities and companies accountable. Screenshot: Parliament´s video archive
Knut Falk Qvigstad (MDG) explains why the weaknesses in OECD´s BEPS-track will allow companies to continue the same practices as they have been doing.
From 2003 - 2012, 6.6 trillion US dollar left developing country economies illicitly. Illustration: PWYP Norway
Financial transparency can finance development
Finance MinisterSiv Jensen. Foto: Rune Kongsro, Finansdepartementet
There are mechanisms against the Panama leak. The Ministry of Finance is scheduling the most important hearing which can give transparency into companies for "summer."
Until now Parliament´s own control mechanisms have not been involved. They will be now when Parliament takes this step. Photo: Johannes Jansson/norden.org
The Standing Committee on Finance and Economic Affairs has reported the Government´s lack of follow-up of the transparency law extended country-by-country reporting.
There is widespread agreement that the current CBCR regulation does not function as intended, and therefore cannot make visible unwanted tax adjustments. Illustration: PWYP Norway.
Parliament asked for extended country-by-country reporting (ECBCR). The Ministry of Finance sent out a hearing on BEPS.