The Canadian mining giant Barrick Gold’s African subsidiary, Acacia Mining, is embroiled in a major political conflict in Tanzania. With growing evidence of its failure to pay royalties and tax, Acacia has been condemned by President Magufuli, had its exports restricted and slapped with a massive tax bill. Barrick enjoys considerable government backing.
Policy Statement of the government of the Saharawi Republic on the risk and liability of ships carrying natural resources from occupied Western Sahara.
Fraudulently under-reporting the price, quantity of a product or service and the value of a commercial transaction in invoices are resulting in Africa and developing countries missing out on billions of dollars in tax revenues, foreign exchange and ultimately development.
Tagged under Labour & Political Economy Transfer mispricing, Misinvoicing, UNCTAD, Resource theft