Transparency

Transparency

September 13, 2011
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A global effort to curb corruption in resource-rich countries gets another boost.

The European Parliament has endorsed plans for EU laws that would require oil, gas, and mining companies to be more transparent about their tax payments to governments around the world. This follows on the heels of U.S. legislation (provision 1504 of Dodd-Frank) that will require extractives companies to disclose payments to government for natural resource extraction.

These efforts are necessary first steps toward curbing the pervasive corruption that often plagues resource-rich countries and drains significant revenues from the state that should be invested in the long-term development of the country and its citizens.

Learn more about the European Parliament's endorsement >>

Read more about the U.S. legislation >>

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