Nick Shaxson ■ Report: Tax havens cost Egypt’s treasury billions
From Madamsr.com:
“Egypt loses as much as LE5 billion [TJN: that’s over $650 million; there’s also a reference to $2.2 billion in annual trade mispricing] a year in tax revenue due to companies using tax havens to shield profits from taxes, according to a new report from the Egyptian Initiative for Personal Rights (EIPR).
The practice also distorts figures for Foreign Direct Investment and allows companies to make investments in Egypt without disclosing ownership details, says EIPR researcher Osama Diab.”
This is just the latest of many reports that has been produced with the support of the Illicit Financial Journalism Programme, which we’re proud to be part of.
Related articles
Another EU court case is weaponising human rights against transparency and tax justice
Submission to Special Rapporteur on the independence of judges and lawyers on undue influence of economic actors on judicial systems
Litany of failure: new briefing sets out OECD’s manifold shortcomings in international tax talks
Financing Africa’s Climate Action
Tax injustices are eroding women’s rights in Brazil, and we need to talk about it
Submission to the Committee on the Elimination of All Forms of Discrimination against Women
20 May 2024
The fiscal social contract and the human rights economy
29 April 2024