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Transparency International estimates that Africa's political elites and their foreign business allies hold US$700-800 billion in offshore accounts - outside Africa. These transactions are facilitated by a pinstripe army of mainly Western bankers, lawyers and accountants using a network of tax havens in wealthy jurisdictions. The most important ways of shifting capital from Africa are the mispricing schemes, identified by Raymond Baker and others....

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Keywords:

Raymond Baker, United States

Tag Cloud:

africa(4) baker(2) excessively(2) flight(5) invoices(2) mispricing(5) offshore(2) schemes(4) tax(4) volume(2)