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.