English

Plantation giant Socfin accused of dodging taxes in Africa

A new report by Bread for all, Alliance Sud, and the German Network for Tax Justice has accused Belgian-French multinational Socfin, which operates rubber and palm oil plantations across West Africa, of shifting profits from Africa to Switzerland. The use of “transfer pricing” to avoid taxation is common among multinationals operating in Africa, depriving low-income governments of badly needed revenue.