Multinationals routinely shift profits from where they were generated into tax havens. We need better reporting from extractive industries to detect abuses
Executives from Trafigura and Rio Tinto will have some unusual and perhaps uncomfortable company this week when they fly to Lima for a gathering of extractive companies, ministers and activists from organisations such as Global Witness and Transparency International.
Wednesday is the start of the two-day conference of the extractive industries transparency initiative (EITI). The agenda includes discussions on revealing the real owners of extractive companies and transparency around commodities trading, contracts and companies.
Related: Nigeria ain’t broke, it just needs to fix its tax system | Kenny Oleru
Related: Anxious times for Africa’s oil giants as commodities boom starts to bust