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!
Summary • In 2012, government expenditure worldwide was USD 28 656 billion. Total tax burden was USD 18 821 billion.• This huge discrepancy can be reduced by closing loopholes in tax systems and preventing capital flight• This report is about analyzing and fixing loopholes in tax systems – increasing cost-efficiency and ensuring fairer competition in extractive industries.VIDEO: See the presentation of the report "Windfall Taxes".
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PWYP Norway explains how the protection of tax havens can be repealed by removing a link between two paragraphs.
Foto: Craig McKune
The South African journalist Craig McKune will share his experience of investigating illegal financial transactions.
From 2003 - 2012, 6.6 trillion US dollar left developing country economies illicitly. Illustration: PWYP Norway
Financial transparency can finance development
Statoils head office in Oslo. Photo: Eline Helledal
The law of country-by-country reporting was implemented in Norway January 1st 2014. For the first time the companies reports for the account year of 2014. Statoil is the first company. This is an important result of ten years of work for transparency, and it is not yet over.
Companies often reallocate income rather than paying the tax. The figure shows the weighted average of the three groups of countries, with the current taxable income as weights. Graphics: IMF
International companies have managed to push the income tax down to zero, and the countries loses up to 15 percent in tax revenue, according to a new report from the International Monetary Fund (IMF).
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.
On the wish list from the civil society you will among other things find contract transparency, a digital searchable register for stockholder list and extended country-by-country reporting.
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.