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28 Sep 2015

Joe Bavier, Reuters

EU should require more tax transparency from firms operating in Africa to ensure fair contribution to development, says economist

"EU must force more transparency from companies in Africa - Piketty", 10 Sep 2015

The European Union should require companies operating in Africa to disclose the taxes they pay there more transparently, to ensure they contribute fairly to government revenues, French economist Thomas Piketty said on Thursday…[D]evelopment in Africa remains hobbled by some of the world's lowest rates of tax collection, said Piketty… He said the biggest international companies, which often negotiate preferential tax deals with African governments, should be paying at least as much tax as small- and medium-sized companies, most of which are locally owned…Civil society initiatives, including Publish What You Pay for the extractive industries, have pushed multinational companies for more transparency in their dealings with developing countries…African countries should aim to gradually raise tax revenues to 30 to 50 percent of GDP, the levels typical in Europe, [Piketty] said…