Press release

Tax optimisation at the expense of the poorest

20.10.2021, Finance and tax policy

The agribusiness group Socfin shifts profits from commodity production to the low-tax canton of Fribourg. This tax avoidance goes hand in hand with profit maximisation at the expense of the population in the affected regions in Africa and Asia.

Tax optimisation at the expense of the poorest

The rubber plantation of the Salala Rubber Corporation (SRC) in Liberia covers about 4500 hectares of land.
© Brot für alle

A report by Bread for all, Alliance Sud and the German Network for Tax Justice on the tax strategy of agribusiness corporation Socfin reveals how multinational companies can shift profits from countries where they produce commodities in Africa and Asia to tax havens like Switzerland. These strategies are highly unjust, even if they may comply with OECD rules. Tax avoidance of this nature is tantamount to extracting profits at the expense of people in the countries of production.

Download the Report: Cultivating Fiscal Inequality: The Socfin Report