ITIC's Oil & Gas Taxation and Regulatory Dialogue held a series of meetings this week in Washington with organizations active in natural resource taxation issues in developing countries to foster understanding and promote balanced, fact-based discussion among government, academics, business, and international organizations. The group of international oil and gas companies also held internal meetings to review its priorities for 2017.

One of the group's first projects in 2016 was the publication of a set of principles for developing countries to consider when they embark on natural resource development projects. Since such projects are long-term and investment intensives, it is important to establish relationships built on equity and trust. A copy of the principles is available here.

While in Washington, the group also held a dinner discussion with ITIC Executive Committee Chairman Jim Miller (Former Director of the U.S. Office of Management and Budget) and ITIC Honorary Co-Chairman Dave Camp (Former Chairman of the Committee on Ways and Means, U.S. House of Representatives) to discuss U.S. tax and regulatory reform proposals.