SV propose extended country-by-country reporting

Snorre Valen, medlem i Finanskomiteen for SV ønsker utvidet land-for-land rapportering. Foto: OSCE Parliamentary Assembly

The Norwegian Parliament voted on the revised national budget June 20th 2014. The Socialist Left Party put forward a proposal to extend the regulations on country-by-country reporting in line with PWYP Norway's proposal.

"The committee member of the Socialist Left Party notes that several players have pointed out that the adopted regulations for country-by-country reporting (CCR) has holes that would preclude an effective fulfillment of the intent of the regulations. This member believe there is still some adjustments before the CCR can ensure a satisfactory reporting. They point to three relatively small steps that will lead to strong improvements", says the propose from SV under Chapter 5.13.24. 5543 Environmental tax on mineral products etc.

PWYP Norway is among others working hard to get an extended country-by-country reporting in Norway. 

Read: ”Så nær er vi en utvidet land-for-land rapportering”

The new law on country-by-country reporting was introduced 1st of January this year. It requires that the Norwegian companies in the mining- and forestry industry will have to report some key figures, including how much they pay in taxes. The law was presented along with the state budget last October. It is criticized by the opposition and the civil society for being too weak to fight tax evasion.

Snorre Valen, a member of the Standing Committee on Finance and Economic Affairs for SV, believes that the law should require that the companies with so-called "support-functions" should have to report under the new legal requirements.

The propose from SV says:

"First of all; all countries that are included in the financial reporting of upstream results should be covered by the regulation on country-by-country reporting. This member would refer to the prevailing doubts about whether it is only the producer countries, or whether there are any countries that are part of the income and expenses attached to upstream activities, which are covered by the rules and believes that the reporting are ineffective if only the producer countries are included."

Read: ”SV varsler omkamp om land-for-land rapportering”

Cooperation Declaration 

PWYP Norway hopes that the Parliament votes for the proposal from SV on extended country-by-country reporting. Christian Democratic Party, Liberals, and Conservatives have agreed not to vote for things they have not already agreed on in the Cooperation Decleration.

It says:

"Parties to the agreement, can not create the majority of verbal suggestions or comments other than as stated in this Agreement, unless all contracting parties agree on this."

Therefore, it is not certain that the parties stand up for what they really have expressed that they stand for. Do they not agree that they are against corruption and capital flight?

PWYP Norway recalls that the parties have a full opportunity to use this opportunity to fix three small steps so that we can get a new law that works.