Wednesday, January 20, 2010

Tax haven risks corruption, OECD warns Ghana | Business |

With all the current stir about West Africa and organized crime, somebody is apparently getting the idea that Ghana's plan to develop a tax haven may not be the best idea.

Tax haven risks corruption, OECD warns Ghana | Business |
Wilson Prichard, a researcher at the Institute of Development Studies who has closely followed Ghana's development as an offshore centre, said: 'Aside from the general social costs associated with the operation of tax havens globally, in the absence of a very strong regulatory framework and very strong standards of transparency there's a particularly high risk that a tax haven in west Africa, which is home to major oil wealth and high levels of corruption, could facilitate large-scale corruption and tax evasion, and pose a correspondingly large risk to good governance and economic growth in the region.'"

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