The push for stronger transparency laws for oil, gas and mining companies is gathering pace.

 

Activities of Offshore Financial Centres (OFCs) also known as “Tax Havens", cost developing countries over a hundred billion dollars every year; an amount which is estimated to be more than the entire global aid budget.  Ghana, for instance, is quoted by Lars Koch-IBIS (2011) in a research as having lost approximately 4.9 billion dollars between 1970 and 2008 as a result of capital flight.

 

Do you know that...

 

 TAX HAVENS provide cover for stolen wealth of corrupt leaders and unscrupulous businesses?  Some G-20 countries have a hidden subsidy by supporting TAX HAVENS which enable them to subsidise their home companies operating through TAX HAVENS and to trade on favourable terms?  Most multinational corporations doing business in developing countries have their parent company registered in tax havens instead of their home countries for purposes some of which include tax dodging?

 

Join the global campaign to end “TAX HAVEN SECRECY” Go to www.endtaxhavensecrecy.org/en/take-action/ and fill in the e-petition to G20 leaders.

 

The Integrated Social Development Centre (ISODEC), has decried the precedence for political cronyism and opacity in the oil and gas industry as in “I scratch your back, you scratch mine” that is going on in the political terrain lately. 

 

The shea sector holds a high potential for effective contribution towards rural poverty eradication, particularly In northern Ghana. 

 


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