Discover and read the best of Twitter Threads about #mauritiusleaks

Most recents (7)

Thread: Amazing resource for tracking corporate #taxhaven strategies&costs. What stands out: absence of data for Africa, ME, etc. We have to talk more abt costs of #taxavoidance for low-income countries, beginning w history of shifting profits from the late colonial world 1/n
The overall amount of profits shifted/cost incurred will be bigger for countries such as US and Europe. But the recent #mauritiusleaks showed that #African countries are hurt by multinational strategies of using tax havens to route investments and book profits 2/n
In a forthcoming article in Past and Present, I show how white European settlers, businessmen, officials etc liquidated their assets during decolonization, fearful of newly independent governments and their attitude towards foreigners and their money. The choice was often 3/n
Read 8 tweets
The @FT is right: Just because your tax avoidance is legal, doesn't mean I won't tweet about its being immoral.

If I'm on vacation, call @rcbregman.…
@FT @rcbregman Interesting piece on Bob Geldof, tax havens, #MauritiusLeaks, and how many "ESG" companies that claim to be "doing well by doing good" fall short in their actual operations.…
.@gilliantett, @naumanbilly, and @Temple_West make a critical point here: Tax avoidance, which costs governments and societies uncountable amounts of money that could go to education and healthcare, etc., is especially egregious for companies that brand themselves on social good.
Read 3 tweets

1/ #mauritiusLeaks is @ICIJorg’s latest offshore project. It started with a story we wrote in 2017 as part of the #paradisepapers investigation and continued when an anonymous source sent us a USB key in the mail that contained 200,000 files (thank you, whistleblower!)
2/ This was hard, dry stuff. No juicy emails to or from presidents or prime ministers trying to hide money. Instead, it was about a bunch of profitable companies trying to pay less money to rich and poor countries around the world.
3/ To understand the documents, I spoke to more than 70 tax and policy experts and to more than 20 tax officials from countries including Thailand, India, Egypt, Zambia and Nigeria.🇱🇸
Read 10 tweets
Why are people so angry at elites?

This morning's mind-bending story about Bob Geldof, aid to Africa, private-equity profiteering, and tax avoidance might help explain.…
First, the news: After decades building a reputation as a white knight for Africa, pushing for aid, Bob Geldof's private-equity firm has been revealed to have set up shell companies in Mauritius so that it could avoid taxes to the African countries he was supposedly helping.
Is this legal? Probably. Is it right? That becomes the question, especially for someone of great means who has gone around begging working- and middle-class people for money for Africa, while he was withholding money from Africa.
Read 30 tweets
Bob Geldof, the musician who built a reputation as a savior of Africa and lectured people to help its governments with debt burdens, reportedly built his Africa private-equity fund offshore to avoid taxes to those very same governments.

A devastating story from #MauritiusLeaks.
A staggering story from @qz, which is part of @ICIJorg’s #MauritiusLeaks, which broke overnight.

Major congratulations to these hard-working journalists dropping truth.…
Geldof famously went on TV and screamed at regular people to give what little money they had to help Africa.

Meanwhile, he would reportedly set up a fund withholding money from African governments.

Trying to cancel by philanthropic moonlight what you do by operational daylight.
Read 3 tweets
In collaboration with the @ICIJorg, and despite injunction threat from UK lawyers Campbell Johnston Clark, we've published this:
‘A moral crime’: Leaked contract reveals how shipowners wash their hands of toxic vessels via offshore world.…
@ICIJorg The story explains how Spanish oil giant Cepsa made a $3.14m deal with an anonymously owned offshore company to sell a tanker for scrap. The tanker highly likely contained dangerous toxins and ended up on a substandard beach scrap yard in Pakistan
@ICIJorg Campaign group @NGOShipbreaking says the leaked contract is a typical example of how large multinationals pass on their toxic assets without taking responsibility for where they end up. The anonymous offshore world is a key facilitator for the spread of poisons. #MauritiusLeaks
Read 5 tweets
Going through the #MauritiusLeaks released last night by @ICIJorg, because Kenyans and people investing in KE have been using Mauritius as a tax haven for a long time...So here are a few names in the leaks.
1. @umaticapital, where ICT CS @joemucheru is an investor and shareholder
Lamu Oil and Gas Ltd, owned by Qatar National Bank and Edgo Energy. The Qataris opened their embassy in KE in April 2012; on June 1st 2012 Lamu Oil and Gas Ltd was opened in Mauritius, and won the block concessions a month later. #MauritiusLeaks
There are four companies in the #MauritiusLeaks associated with the Lamu oil concessions, two of which are now defunct but the other two are still active. All of them were opened on a single day.
Read 9 tweets

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