Voice of America: Report Claims Tax Havens Cost Africa $38 Billion a Year

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

Report Claims Tax Havens Cost Africa $38 Billion a Year May 10th 2013, 20:15 Campaigners are calling for the world's richest countries to bring an end to so-called tax havens, which allow companies to transfer profits between jurisdictions and reduce their 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.  Campaigners claim multinational corporations are costing developing countries billions of dollars in lost revenue by transferring their profits to ... Media files: 0BD5F6F2-65F6-43E8-8F13-68FAF6A3C84B_cx0_cy0_cw0_w800_r1.jpg?nocache=1 (image/jpeg, 0 MB)

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