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Gabon: 441 billion FCFA transferred to tax havens

23/12/2021
Categories: Sectors

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In 2021 in Gabon, 441 billion CFA francs were transferred to tax havens according to the African economic information agency Ecofin in its ''Infographic on profits illegitimately transferred out of Africa by companies (2021) in millions of dollars''.

In Gabon, 758 million dollars, or 441 billion CFA francs, were transferred by companies to tax havens in 2021. According to the African Economic Information Agency, “the profit is moved to another country, in a offshore account for example". A practice clearly referring to tax evasion: the transfer of one's assets (or profits), for high-income people or companies, to countries where one pays less tax by using loopholes in tax rules.

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