This report reveals that Liberia earns too little from its iron ore exports. It reveals that the country gives overly generous tax breaks to iron ore investors grossly undercutting its revised Revenue Code. For example, while the Revenue Code requires multinationals to pay 30 percent income taxes on all corporate profits, ArcelorMittal, China Union, and Putu only pay 25 percent. The report also reveals that state-citizen relations and relations between local communities and foreign multi-nationals operating in the mining sector are strained.
Poverty in the Midst of Plenty
Tuesday, March 17, 2015