Category: Congo

The Offshore Wrapper: a week in tax justice #71

Now that’s what I call a Big Tax Case A long running court case that has become known as the ‘Big Tax Case’ appears to be reaching a conclusion. It involves Scottish football club Rangers, who went bust in 2012. After it failed, a new company was created. It bought… – Continue reading

Marco Rubio’s Billionaire Backer Likes to Sue Poor Countries and Put Profits in Tax Havens

Paul Singer has a good track record as a money manager. In 1995, he bought $20 million worth of Peruvian debt at a discounted price of $11.4 million, then forced Peru’s government, through lawsuits, to eventually pay nearly five times his initial investment — some $58 million. In 2002 and… – Continue reading

Kenya: ‘Kenya Losing Billions to Tax Havens’

The government has been accused of opening a loophole that allows super rich individuals and multinational companies to avoid taxes. The Tax Justice Network (TJN), a lobby group, has sued the government over agreements, which it says are robbing Kenya of the ability to raise revenues domestically, driving the country… – Continue reading

DRC Opposition Seeks to Reopen Probe Into $3 Billion Frau

GOMA, DEMOCRATIC REPUBLIC OF CONGO—The Democratic Republic of Congo’s biggest-ever corruption probe was called off without an official explanation, according to both a Congolese lawmaker and a government spokesman. Investigators were looking into fraud that may have cost the government more than $3 billion. It was an investigation of alleged… – Continue reading

Zimbabwe: Diamond Miners On Looting Spree

DIAMOND mining companies operating in Zimbabwe’s Marange diamond fields are reportedly on a last minute looting spree ahead of a loathed mandatory consolidation exercise. As government peruses through various consolidation proposals submitted by seven companies operating in Marange and prepares for an audit, miners are reportedly exploiting the existing loopholes… – Continue reading

Cayman included on FCA high-risk list

The Cayman Islands, an important international business competitor for Bermuda, is expressing “consternation” that they have been included on a new list of high risk jurisdictions for financial crime. There are a total of 95 countries listed including Brazil, Afghanistan, Cuba, Russia, China, Iraq, the Republic of Congo and Jamaica…. – Continue reading