Financial Transparency Coalition

Despite earning millions from economic activity in Malawi, one of the world’s poorest countries, a single Australian mining company managed to legally avoid paying taxes to the tune of US$43 million over a six year period. That’s enough for almost 500,000 HIV/AIDS treatments.

In a study conducted between November 2010 and February 2011 on ill-gotten money and the economy, the Financial Integrity team looked at the experiences of Malawi and Namibia. We approached the project with an open mind and without any assumptions, finding that for Malawi, corruption and tax evasion as a percentage of GDP represent a significant drag on economic development.