01488nam a2200145   4500100002000000245006400020260005100084300000800135490003300143520101600176650006001192856007001252942000701322999001301329  aChristensen ,J.  aAfrica’s Lost Tax Revenue, Lost Development Opportunities  bAssociation of Concerned Africa Scholarsc2012  a6p.  aBulletin No 87 – FALL 2012  aThe article bemoans tax revenue losses in many African countries owing to a number of reasons. Tax policy plays a major role in shaping development outcomes. Much African-origin wealth has been accumulated in secret offshore companies, trusts, and bank accounts. The long-term outcomes in many countries have included low tax yields, requiring excessive reliance on external debt or foreign aid; under-investment in public goods such as health, education, training, and research; and widespread public disenchantment with the legitimacy of taxes and the state itself.Tax avoidance, particularly involving transfer pricing, undermines markets by distorting competition in favor of multinational companies extensively to shift their profits to tax havens. This in turn impacts the quality of governance in Africa. The majority of African people engaged in illicit financial flows to offshore secrecy jurisdictions come from the elite 1 percenT. Barriers to progressive taxregimes in Africa is explained in detail.  aTAX HAVENS, OFFSHORE ,TAXES, TAX EVASION ,TAX AVOIDANCE  uiffoadatabase.trustafrica.org/iff/africa’s_lost_tax_revenue.pdf  cNA  c322d322