Corruption Crippling Africa, Sapping Tax Revenue

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Corruption, in the form of kick backs, bribes, and tax evasion, are sapping away some 62.5 billion dollars worth of money a year in Africa. This outflow of money is taxing already strapped African governments, many of which are desperate for revenue.

At first glance 62.5 billion dollars might not seem like a lot, and for a booming Asian nation or a large, rich country like the United States, such an amount would probably not raise an alarm. However, for many Africa economies the potential tax revenue from that pool of money, along with its potential impact should it be invested in the local economy, is substantial.

 

Read more at Value Walk

Nigeria National Assembly
Nigeria National Assembly

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