Tax Avoidance by Multinationals in Africa



Author:
WhyPoverty
Publisher:
WhyPoverty
Publication Date:
5 January 2013
Tags:
Economy, Business and Finance, Company News, Zambia

Rüschlikon is a village in Switzerland with a very low tax rate and very wealthy residents. But it receives more tax revenue than it can use.

This is largely thanks to one resident - Ivan Glasenberg, CEO of Glencore, whose copper mines in Zambia are not generating a large bounty tax revenue for the Zambians. Zambia has the 3rd largest copper reserves in the world, but 60% of the population live on less than $1 a day and 80% are unemployed. Based on original research into public documents, the film describes the tax system employed by multinational companies in Africa.