sharing in governance of extractive industries
How governments fail to secure a fair share of natural resource wealth
September 26th, 2017
10:00-12:30 - The discussion will be followed by lunch.
The event will be webcast here: https://oxfam.webex.com/oxfam/j.php?MTID=m525ab80d11861e9b8b596abb645e977a
Publish What You Pay (PWYP) and Oxfam cordially invite you to the Washington, DC launch of the report “Many Ways to Lose a Billion: How Governments Fail to Secure a Fair Share of Natural Resource Wealth.”
A large number of resource rich countries depend on natural resource revenues for a substantial portion of their annual budgets. However, extractives companies employ a wide range of strategies to minimize their payments to governments. Their efforts to avoid tax are facilitated by weak institutions, inadequate policies and regulations, badly negotiated contracts and insufficient government monitoring and auditing. Billions of dollars in government revenue are at stake.
In response, PWYP Canada commissioned the report to help citizens and governments answer the question: “is my government receiving its fair share of revenues from oil, gas and mining projects?”
The report sets out a revenue risk assessment framework that maps and illustrates the main pathways through which governments lose revenue in the extractive sector. Using real-world case studies, the report helps stakeholders learn how to pinpoint mechanisms and policies that can safeguard those revenues. It serves as a critical tool to enable systematic analysis of data on company payments to governments, such as that already produced under Canadian, EU and Norwegian disclosure laws as well as the Extractive Industries Transparency Initiative (EITI).
Sasha Caldera, Interim Manager Policy and Advocacy, Engineers Without Borders Canada, PWYP Canada member and Data Extractor
Don Hubert, report author, President, Resources for Development Consulting
Thomas Baunsgaard, , International Monetary Fund
Isabel Munilla, Policy Lead, Extractive Industries Transparency, Oxfam
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