World Bank and IMF
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Document typeMedia briefing
Multinational companies cheated Africa out of US$11bn through just one of their tax dodging tricks – trade mispricing – in 2010. Africa is growing economically, but billions of dollars a year are flowing out of the continent. This deprives governments of vital potential investments in healthcare and education for all, and sustainable agriculture.
Securing Africa’s economic rise will be top of the agenda at the 25th World Economic Forum-Africa in Cape Town. Oxfam is calling on business and political leaders to demand an intergovernmental tax body to reform the global tax rules so that multinational companies pay their fair share of tax in Africa.