Sam 3 Mar 2012 07:15
Savoureux : est-ce le début du commencement ?
British parliamentarians to quiz Glencore and others over tax avoidance in Zambia
TIME PUBLISHED - Saturday, March 3, 2012, 7:13 am
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TIME PUBLISHED - Saturday, March 3, 2012, 7:13 am
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Glencore, the world's largest diversified commodities trader
Reuters reports that British parliamentarians have invited commodities trader Glencore and other unnamed companies in the resources sector to testify next month as part of an inquiry into tax in developing countries.
Parliament’s International Development Committee monitors the work of the Department for International Development and is probing tax payments and tax avoidance in the developing world.
It has focused its investigation on Zambia, a copper producing giant where Glencore operates alongside other miners including Vedanta Resources and First Quantum.
A number of non-governmental organisations, but also Rio Tinto and brewer SABMiller, have already submitted written evidence as part of the inquiry.
Zambia is Africa’s top copper producer, but it is one of the world’s poorest countries, and its revenue from the sector accounts for barely 1 percent of government revenue. It said last month that it would audit all of its mining houses to dig for back taxes of up to $1 billion.
The committee quotes an estimated $160 billion each year lost by the developing world because of tax avoidance by multinationals.
“We are happy to take part in this inquiry, about taxation in developing countries,” said a spokesman for Glencore, which owns Mopani Copper Mines, one of Zambia’s largest producers.
“Mopani makes a major economic contribution to Zambia, providing over 17,000 jobs, paying its taxes, and making substantial voluntary contributions in education, health and infrastructure development.”
[Reuters]