Another week, another story of a project that was supposed to help Africa, but a tax scheme that did the opposite. We’ve published a story on a satellite, launched in 2011, which was touted as a communications and development boon for the continent.
But, that’s in stark contrast to its tax strategy. A PowerPoint presentation from the Paradise Papers reveals the company would earn $936 million over 17 years, but never pay taxes above $300,000. That’s thanks to some clever tax maneuvers and offshore companies in Mauritius – one of the continent’s premier tax havens.
Previously in The Paradise Papers:
* Just How Much Money Is Held Offshore? Hint: A SHIT-TON.