Study finds MNCs robbing Tanzania of fair tax share

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Study finds MNCs robbing Tanzania of fair tax share By TII News Service Jun 26, 2012 , Dar es Salaam
A Study commissioned by the Interfaith Standing Committee on Economic Justice and Integrity of Creation (ISCJIC) has reportedly revealed that many MNCs, which operate in Tanzania, use tax havens for their cross-border transactions and such tax planning leads to tax avoidance and illegal outflow of capital. In nutshell, the Study has showed that Tanzania loses to the tune of USD one billion every year through flight of capital, tax incentives and tax evasions. The report has pointed accusing finger at large companies engaged in mining, telecommunication and brewing industries

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