PWYP will continue to campaign for full financial transparency from companies, to ensure the availability of quality data that is regular, credible, comprehensive, comparable and accessible/open. This will provide women, men and youth in resource-rich countries with the information to demand accountability from both industry and government.
The EITI will continue to remain a key mechanism through which to demand payment and revenue transparency, but it is not the only one. As they come into force, the US Dodd-Frank Act and the EU Accounting and Transparency Directives will require all US- and EU-listed EI companies to report their payments to governments.
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Below are the different strategic options our members are also pursuing in this field.
a. Advocate for mandatory payment disclosure worldwide through listings regulations in capital markets (globalising Dodd-Frank and EU Directives).
b. Campaign for mandatory payment disclosure through international accounting standards, regional and national level regulations, and embedding EITI in national legal frameworks.
c. Campaign for mandatory extended country-by-country reporting at national and/or regional level , focusing on profits, sales, production volumes, employee numbers etc., to help reveal tax avoidance and capital flight
(including transfer mispricing, use of tax secrecy jurisdictions/ tax havens and “mailbox companies”).
d. Campaign for EITI reports disaggregated by project, company and
commodity, and for inclusion in EITI reports of data on profits, sales, costs,
production volumes etc. as standard practice.
e. Monitor and analyse the implementation of Dodd-Frank 1504 and EU
Accounting and Transparency Directives and integrate the use of the
emerging data in our campaigning efforts.