Panama Papers and the looting of Africa
Founding Executive Director of Tax Justice Network- Africa Alvin Mosioma just released a report on how "the Panama paper documents, leaked to the press in the spring, provided us a
rare insight into how complex corporate structures are used deliberately to hide away massive amounts of capital in tax havens": the 20-page long report "Panama Papers and the looting of Africa", funded by Save the Children, Norwegian Church Aid and Tax Justice Network Norway, "aims at presenting a more balanced picture in the public debate (when...) the situation in the rich countries have attracted the most attention" (...): While African countries have undertaken domestic reforms in order to increase their tax base (from 13% to 18% from 1990 to today), the tax authority’s abilities to correctly tax companies and individuals, becomes nearly impossible. This means lost revenue for all countries, but the developing countries are suffering the most."
You can find the report in our Resources page and online.
Photo:Silke Ötsch/ Flickr