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

Photogallery Americans Celebrate Thanksgiving With Feasts, Festivities

Holiday traditions include turkey dinners, 'turkey trots,' American-style football and New York parade with giant balloons More

Video For Obama, Ferguson Violence is a Personal Issue

With two years left in term, analysts say, president has less to lose by taking conversation on race further More

Video Italian Espresso Expands Into Space

When Italian astronaut Samantha Cristoforetti headed for the ISS, her countrymen worried how she would survive six months drinking only instant coffee More