Task Force on Financial Integrity and Economic Development

The Task Force on Financial Integrity & Economic Development was in Washington DC, USA, by the independent non-profit think tank Global Financial Integrity ( GFI ), founded in January 2009 with headquarters in the U.S. and with the support of Norway and is a global coalition of NGOs and more than 50 countries, including, for example, include the German federal government, the Canadian Canadian International Development Agency ( CIDA) and the Permanent Secretariat of the Leading Group on Innovative Financing for Development, based in Paris. The objective is to improve transparency and accountability within the global financial system and a detection of illicit financial flows.

Tasks and objectives

  • Combat price manipulation in international trade
  • Binding anchor country-specific reporting requirements on sales, profits and taxes paid by multinational companies
  • Disclosure of information on beneficial owners / beneficial ownership ( beneficial ownership ) of companies and trusts.
  • Introduction of automatic cross- border exchange of tax information
  • Harmonization of measures against money laundering

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Director of the Task Force is the American Raymond W. Baker ( b. 1935 ).

The management of the Task Force takes a Coordination Committee ( coordinating committee ) with the following members present:

  • Global Financial Integrity ( GFI ), also responsible for the coordination of the Task Force
  • Christian Aid, the official relief and development organization of 40 British and Irish churches and institutions
  • European Network on Debt and Development ( Eurodad )
  • Tax Justice Network ( Network for Tax Justice )
  • Global Witness
  • Transparency International

Financial support for the Task Force by the Norwegian Ministry of Foreign Affairs and the Spanish government.

History

In September 2009, the Task Force called during the summit of the Group of Twenty major industrialized and emerging economies ( G20 ) in Pittsburgh, United States to deal with the serious effects of the shadow financial system for the poor countries and take concrete steps against capital flight to tax havens and shadow financial centers to do. Estimates of these According to the working group, the amount of tax flight capital from developing countries amounted to "western economies" to about 850 billion U.S. dollars annually.

Previous conferences:

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