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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.
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