Norway's giant wealth fund demands company tax transparencyStaff Writer | April 7, 2017
Norway's $915 billion sovereign wealth fund, the world's biggest, called for companies around the world to be more transparent about their tax payments.
Investment Norges Bank Investment Management
Norges Bank Investment Management (NBIM), which runs the fund, said that taxes should be paid where economic value is generated, that a company's board is responsible for its tax arrangements and that public country-by-country tax reporting is a core element of transparency.
With stakes in about 9,000 companies globally, owning on average 1.3 percent of all listed equities, the Norwegian fund is among the world's most influential investors which from time to time it publishes "expectations documents" in a bid to influence corporate behaviour. ■