Tag Archives | tax treaty

One Company’s Tax ‘Heaven’ Is Senegal’s Tax ‘Hell’

A lopsided treaty between Mauritius and Senegal means, with the right paperwork, companies working in Senegal can avoid paying millions in taxes.  One of the world’s largest engineering companies scored a $50 million deal to build a processing plant in Senegal, one of the world’s poorest countries, it looked to a tiny Indian Ocean island for help. That island, Mauritius, has an established banking system, a level of political stability unusual across Africa and well-trained workforce. It is also a renowned tax haven. And Mauritius offered engineering company SNC-Lavalin a significant benefit: a lopsided treaty signed with Senegal that, with the right paperwork, made it easy for the Canadian firm to avoid up to $8.9 million in taxes. Read more Originally published on ICIJ

Continue Reading 0