The swipe at fiscally agile multinationals which gives this post its title comes from Richard Murphy at a recent event held in Brussels for NGOs, MEPs and other stakeholders to discuss the draft transparency directive issued by the European Commission. The new directive picks up the political momentum created by the US Dodd-Franks legislation passed more »
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ARTICLE 31 - TAX PROVISIONS 31.1 Except as expressly provided in this Article 31, and without prejudice to the exemptions expressly provided for in Article30 and in this Article 31, each CONTRACTOR Entity, its Affiliates, and any Subcontractor shall, for the entire duration of this Contract, be exempt from all Taxes as a result of its income assets and activities under this Contract. The GOVERNMENT shall indemnify each CONTRACTOR Entity upon demand against any liability to pay any Taxes assessed or imposed upon such entity which relate to any of the exemptions granted by the GOVERNMENT under this Article 31.