| 000 -LEADER | |
|---|---|
| fixed length control field | 01881nam a22001337a 4500 |
| 100 ## - MAIN ENTRY--AUTHOR NAME | |
| Personal name | Versi, Anver |
| 245 ## - TITLE STATEMENT | |
| Title | Multinationals ‘Steal’ $50bn Per Year From Africa |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication | London |
| Name of publisher | New African Magazine |
| Year of publication | 2012. |
| 300 ## - PHYSICAL DESCRIPTION | |
| Number of Pages | 2p |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | The article looks at the role played by multinational companies in siphoning large sums of money out of Africa through IFFs. It comes as no surprise that large sums of money illicitly leave the African continent each year, but the scale of this movement, as revealed in a new report by the UN Economic Commission for Africa, is shocking. The report, says that illicit transfer of funds from the developing world to the developed countries could amount to a staggering $1.5 trillion every year. Global multinationals use a variety of means to siphon off vast amounts that the developing world, including Africa, desperately needs. In addition to mispricing, corporations are involved in the equally damaging practice of tax avoidance and evasion and laundered commercial transactions. These activities, shift money beyond the reach of domestic authorities and, in effect, denies them the ability to put such resources in their own development. Throw into this mix illicit and illegal transfers involving theft, bribery and other forms of corruption by government officials, drug trading, racketeering, counterfeiting, contraband and terrorist financing and you have a witch’s brew of malfeasance. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical Term | ECONOMIC DEVELOPMENT TRADE MISPRICING BALANCE OF PAYMENTS BANKING SECRECY CAPITAL FLIGHT CAPITAL OUTFLOW CROSS-BORDER ENVIRONMENT FALSE BILLING GOOD GOVERNANCE ILLICIT WEALTH MISPRICING MONEY LAUNDERING NATURAL RESOURCES PRIVATE CAPITAL SMUGGLING TAX EVASION TAX HAVENS TAXES TRANSPARENCY UNDERPRICING |
| 856 ## - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | iffoadatabase.trustafrica.org/iff/multinationals_‘steal’_$50bn_per_year_from_africa.pdf |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Koha item type | News Articles |
No items available.