It’s unclear how much tax Sequoia avoided, but the files show it taking “pretty aggressive”—and head-spinningly complex—measures stretching all the way to Singapore. Leaked documents from a Mauritian law firm have revealed how Western multinationals avoid paying tax in developing countries. The firms involved include the International Consortium of Investigative Journalists and anti-poverty activist Sir Bob Geldof 's Mauritian investment fund. The leak of 129 files, dubbed the Mauritius Leaks , shows a mismatch between investments made and tax paid, through complex arrangements via tax haven Mauritius, where the tax rate for foreign multinationals is around 3%. Tax avoidance costs poor economies $14.8 million annually , 3% of sub- Saharan Africa's GDP. The US has long resisted India 's attempts to force multinationals to pay tax where they earn revenue.
Leaked documents from a Mauritian law firm have revealed how Western multinationals avoid paying tax in developing countries. The firms involved include the International Consortium of Investigative Journalists and anti-poverty activist Sir Bob Geldof 's Mauritian investment fund. The leak of 129 files, dubbed the Mauritius Leaks , shows a mismatch between investments made and tax paid, through complex arrangements via tax haven Mauritius, where the tax rate for foreign multinationals is around 3%. Tax avoidance costs poor economies $14.8 million annually , 3% of sub- Saharan Africa's GDP. The US has long resisted India 's attempts to force multinationals to pay tax where they earn revenue.