Europe

Report Claims Tax Havens Cost Africa $38 Billion a Yeari
X
May 11, 2013 3:05 AM
Campaigners are calling for the world's richest countries to end so-called tax havens, which allow companies to transfer profits among jurisdictions and reduce their tax bills. An investigation headed by former U.N. Secretary General Kofi Annan has concluded that the practice costs Africa $38 billion a year in lost revenue. Henry Ridgwell reports for VOA from London.

Report Claims Tax Havens Cost Africa $38 Billion a Year

Published May 10, 2013

Campaigners are calling for the world's richest countries to end so-called tax havens, which allow companies to transfer profits among jurisdictions and reduce their tax bills. An investigation headed by former U.N. Secretary General Kofi Annan has concluded that the practice costs Africa $38 billion a year in lost revenue. Henry Ridgwell reports for VOA from London.


You May Like

Turbulent Transition Imperils Tunisia’s Arab Spring Gains

Critics say new anti-terrorism laws worsen Tunisia's situation while others put faith in country’s vibrant civil organizations, women’s movement More

Burundi’s Political Crisis May Become Humanitarian One

United Nations aid agencies issue warning as deadly violence sends tens of thousands fleeing More

Yemenis Adjust to Life Under Houthi Rule

Locals want warring parties to strike deal to stop bloodletting before deciding how country is governed More