Over the past few decades tax reforms in developing countries has been highly regressive, with corporate taxes being lowered and consumption taxes-which hit the poor hardest-being increased…Overly generous tax incentives has resulted in many developing countries simply sacrificing significant tax revenues to companies…This report concentrates on Guatemala, Peru and Honduras…The World Bank’s role in encouraging inappropriate taxation regimes and in investing in mining companies should not be ignored…this report also tries to quantify… damage done…when countries overprice their imports and/or under-price their exports, ensuring a transfer of tax revenue out of the country…Governments should..conduct a thorough review of taxation regimes…join the Extractive Industries Transparency Initiative…push for a new international accounting standard that would force multinationals to reveal their profits