Multinationals costs SA $530-billion

The issue of aggressive “tax management” by global and South African firms are is receiving increasing attention from policy makers, lobby groups and the media.

This is accroding to assurance, tax and advisory firm Grant Thornton in an article on its website.

It says that according to Global Financial Integrity, a non-profit, research and advocacy organisation, an estimated $530-billion has been lost to sub-Saharan African country’s tax coffers between 2003-2012 due to tax avoidance and illegal activity.

via Multinationals costs the Southern Africa economy $530-billion | Accounting Weekly.

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