Al Jazeera English Reports On Devastating Capital Flight From Africa Via Corporate Tax Evasion Strategies
May 29th, 2012
Attiyah Waris, Tax Law Professor at Nairobi University, argues that tax evasion strategies used by African multinational corporations drain the continent of revenues that would more than sufficiently finance the African continent. Foreign Aid would be rendered unnecessary if Africa were to receive tax revenues that are rightfully theirs.
The video demonstrates a good example of trade mispricing and how it can cause large sums of capital flight, further deteriorating already struggling economies. Faltering legal structures and outdated economic policies facilitate this type of fraud.