Below is a must-see video from Al Jazeera English, reporting on the report by Action Aid UK on tax avoidance by sugar companies in Zambia. The report finds that British Foods Group, a major supplier of sugar in Zambia, made a profit of $123 million since 2007, but paid virtually no taxes. The losses include over $80 million in funds moved to tax havens, and a $47 million ‘management fee’ from British Food Group’s Irish subsidiary. And this is all in addition the billions of illicit dollars leaving Zambia every year.
Chris gives the example of a small farmer in Zambia, who pays more in corporate tax every year than a multinational British company in the same industry, despite her children going to bed hungry many nights.
And if you haven’t seen Action Aid’s excellent infographic on the report, click here.
Disclaimer: Unless specifically stated to be the views of the Task Force, the opinions expressed on this blog are solely the opinions of the individual blogger and are not necessarily those of the Task Force on Financial Integrity & Economic Development.
Follow @Task_Force