Transfer pricing described as obstacle to development financing
May 06, 2009
Susan George, board chair of the Transnational Institute, a worldwide fellowship of scholar activists, has slammed transfer pricing for being a hindrance to institutions such as the IMF providing financing to emerging nations.
In a presentation to the Club of Rome being held in Vienna, George who is also honorary president of Attac-France, which is an international organisation working to introduce a version of the Tobin tax (a sales tax on cross-border currency trades, aimed at discouraging speculation by making currency trading more costly) and which also opposes free trade, globalisation and neoliberalism, told the audience that companies had to be stopped from using transfer pricing.
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