admin | June 8, 2015
Multinational companies are depriving African governments of $11 billion U.S. in taxes every year, according to Oxfam International. The anti-poverty group says that world leaders should set up a new global body to regulate corporate taxation.
In a recent report, Oxfam states that companies can legally avoid paying taxes in the African countries where they operate by shifting profits to countries with lower tax rates. This deprives African governments of desperately needed funds.
Winnie Byanyima is the executive director of Oxfam International. She says, “It’s absurd that there are international organizations for trade, health and football, but not for tax.”
To read the full article, go to: http://www.trust.org/item/20150602000201-oaxce/
Photo: In a 2005 file photo, the fingers of malnourished one-year-old Alassa Galisou are pressed against the lips of his mother Fatou Ousseini at an emergency feeding clinic in the town of Tahoua in northwestern Niger. Credit: REUTERS/Finbarr O’Reilly