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Tax evasion: Chad suffers enormous damage

22/11/2021
Categories: General Information

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Chad would have repaid Glencore's debt twice if it had not had to face the setbacks of multinational tax evasion.

       

It is demanded that the Central African country continue its programs necessary for the reform of its economy. But little is said about the tax leaks that deprive this country of considerable revenue. Indeed, Chad is the country that is the most affected in Africa by tax losses which represent up to 17.1% of its gross domestic product (GDP).

If the multinationals and the richest had paid the right tax, Chad could have repaid twice the debt demanded of it by Glencore, the Swiss group specializing in the trading of raw materials. According to data from the recent edition of the report on the state of tax justice in the world, published by Tax Justice Network, Public Service International, and Global Alliance for Tax Justice, the country was deprived of $1.9 billion in tax evasion and avoidance.

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