In June 2008 the Norwegian government appointed a commission on capital flight from poor countries that would be in charge of presenting proposals to curb illicit flows from developing countries to the Government. One year later, the Commission has released its preliminary report, entitled “Tax havens and development”. The report contains an extensive analysis of the tax havens industry and its impacts on developing countries. It also looks into Norfund investments, a Norwegian investment fund operating in developing countries which uses tax havens in its investment strategies. The report concludes that secrecy and virtually zero tax regimes provided by tax havens have very damaging effects on development and sets out key recommendations to the Norwegian government.