Norway Launches International Tax and Corruption Enforcement Initiatives to Help LDCs

On July 12th, 2006, the Norwegian Minister of International Development, Erik Solheim, along with the Minister of Finance, Kristen Halvorsen, launched an initiative to combat capital flight and the abuse of tax havens. The Norwegian initiative includes three elements: working with the United Nations to reduce corruption that has become an impediment to third world development assistance; taking a leadership role in establishing an International Task Force for Combating Tax Haven Abuse and Capital Flight; and commissioning and financing a World Bank investigation into illicit financial outflows from developing countries … [more]