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New Reporting Code for Multinationals Could Save Africa $35b

by Munaita, Peter
Published by : The East African (Kenya) Physical details: 3p.
Subject(s): Tax evasion
Year: 2015
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The article relates to developments in which in East African countries are expected to collect more revenue under a new code drawn, by the world's richest economies to stop foreign multinationals from dodging taxes in host countries.The new code -- Base Erosion and Profit Shifting (BEPS) -- adopted by G20 at its meeting in Turkey, seeks to seal loopholes in the global tax system that allow corporate profits to "evaporate" .

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