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Un1qu3Nam3

6,255 Posts.

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26/09/17

14:38

Post #: 27465324
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Originally posted by staz024 ↑

A quick glance on the internet reveals how the system works, in many countries in Africa.
Glencore is a shining example of how they build a mine & avoid tax in the country of origin. The tax they then do pay in the country of origin then is diverted to pay off the corrupt officials (how to be a despot 101).
The despot then makes sure that all his cronies, follow his lead and have bank accounts in places like Switzerland and other fiscal havens.
The despot then makes the occasional trip to Western countries, where they are warmly welcomed and make a speech remembering to throw in a few remarks about freedom.
So that pretty much sets up a status quo that if nothing interferes with that flow of capital, should be good for a couple of decades of "stability".

https://www.globalwitness.org/en/pr...ils-reach-treasury-democratic-republic-congo/

http://www.christianaid.org.uk/pres...in-zambia-the-tax-questions-that-persist.aspx
http://www.smh.com.au/business/the-...udited-by-ato-over-taxes-20150513-gh0g51.html

Well that was the case until the Chinese turned up in Africa.
Infrastructure spending is winning hearts and minds especially in the DRC where war(s) and post colonial decay have left their mark.
https://www.the-american-interest.com/2014/01/10/chinas-congo-plan/

http://www.theworldfolio.com/files/file/report-57d28b8608656.pdf

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The (now deceased) owner of Glencore even managed to bribe a US President (Clinton) to get himself pardoned.

http://nypost.com/2016/01/17/after-pardoning-criminal-marc-rich-clintons-made-millions-off-friends/

AVZ Price at posting: 11.5¢ Sentiment: Hold Disclosure: Held
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