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Vol 51 No 12

Published 11th June 2010

Higher taxes, says the OECD

Joining the call for tougher action on capital flight from poor countries, the Paris-based Organisation for Economic Cooperation and Development last month co-published a study with the African Development Bank arguing that African states should renegotiate unfavourable contracts with multinational companies to get a better return on their natural resources. Presenting the study at the AfDB’s Annual Meeting in Abidjan on 27-28 May, an OECD official said: ‘Where multinational firms fail to abide by minimum corporate governance standards in terms of tax contributions, governments should consider renegotiating concessions.’

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