Cameron calls for cross-border tax transparency
Publicado em Aug 01, 2011 12:36 PM
01/08/2011
Speaking from Lagos, Nigeria, Mr Cameron said: "It’s vital that when foreign companies invest in a country, the benefits of that investment reach the African people, so they can become less reliant on aid.
"The US has gone a step further, introducing legally binding measures to require oil, gas and mining companies to publish key financial information for each country and project they work on.
"And I'm calling on Europe to do the same.
"We want to disclose the payments our companies make to your governments so you can hold your governments to account for the money they receive."
According to Christian Aid, developing countries lose out on £100 billion in tax revenues each year as result of companies trading cross-border and employing methods to hide their profits offshore where little or no tax is paid.
Dr David McNair, Christian Aid’s senior economic justice adviser, said: "The Prime Minister’s call is very welcome. It follows other remarks he has made during his trip highlighting the importance of effective tax systems as a means of enabling developing countries to achieve economic independence.
"The amount at present lost to developing countries through tax dodging by companies trading across borders is one and a half times the amount rich countries contribute in aid every year.
"Requiring companies to reveal what they pay with regard to each project they undertake is one step towards curtailing such widespread tax abuse, and will help prevent the bribing of politicians to secure contracts.
"But EU legislation needs to go further. In order to ensure companies are paying the right amount of tax, we need more information on how the taxes they do pay relate to the profits they make.
"The money lost to poorer countries through tax dodging could make a significant difference to services such as health and education in the countries affected."
The Prime Minister, who has now returned from his African trip, also called for more investment in Africa's infrastructure and pledged to considerably improve the UK's aid budget.
