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American Dream Betrayed

The Paradise Papers: 'Africa's Satellite' Avoided Millions Using A Very African Tax Scheme

Another week, another story of a project that was supposed to help Africa, but a tax scheme that did the opposite. We've published a story on a satellite, launched in 2011, which was touted as a communications and development boon for the continent.

But, that's in stark contrast to its tax strategy. A PowerPoint presentation from the Paradise Papers reveals the company would earn $936 million over 17 years, but never pay taxes above $300,000. That's thanks to some clever tax maneuvers and offshore companies in Mauritius - one of the continent's premier tax havens.


Previously in The Paradise Papers:

* 'Paradise Papers' Reveal Tax Avoidance, Shady Dealings Of World's Rich And Powerful.

* Just How Much Money Is Held Offshore? Hint: A SHIT-TON.

* Development Dreams Lost In The Offshore World.

* Keeping Offshore 'Hush Hush,' But Why?

* Tax Havens Are Alive With The Sound Of Music.

* Today In Tax Avoidance Of The Ultra-Wealthy.

* Go To Town With This Offshore Leaks Database.

* The Paradise Papers: The View From Africa And Asia.

* The Paradise Papers: The End Of Elusion For PokerStars.

* The Paradise Papers: An Odd Call From The Bermuda Government.

* The Paradise Papers: Nevis Is An Offshore Haven Of Opportunity

* The Paradise Papers: The Long Twilight Struggle Against Offshore Secrecy.

* The Paradise Papers: A Fair Tax System Will Be Lost Without Public Pressure.

* Item: Today In The Paradise Papers: Through Death Threats And Scare Tactics, Honduran Reporter 'Perseveres.'

* The Paradise Papers: Journalists Flee Venezuela To Publish Investigation.

* Last Stop: Chicago.


Previously in The Panama Papers:

* The Panama Papers: Remarkable Global Media Collaboration Cracks Walls Of Offshore Tax Haven Secrecy.

* The Panama Papers: Prosecutors Open Probes.

* The [Monday] Papers.

* Adventures In Tax Avoidance.

* Mossack Fonseca's Oligarchs, Dictators And Corrupt White-Collar Businessmen.

* Jonathan Pie, TV Reporter! They're All In It Together.

* Meet The Panama Papers Editor Who Handled 376 Reporters In 80 Countries.


Previously in tax scammage:

* Deepwater Horizon Settlement Comes With $5.35 Billion Tax Windfall.

* Offshoring By 29 Companies Costs Illinois $1.2 Billion Annually.

* Government Agencies Allow Corporations To Write Off Billions In Federal Settlements.

* The Gang Of 62 Vs. The World.

* How The Maker Of TurboTax Fought Free, Simple Tax Filing.

* $1.4 Trillion: Oxfam Exposes The Great Offshore Tax Scam Of U.S. Companies.

* How Barclay's Turned A $10 Billion Profit Into A Tax Loss.

* Wall Street Stock Loans Drain $1 Billion A Year From German Taxpayers.

* German Finance Minister Cries Foul Over Tax Avoidance Deals.

* Prosecutor Targets Commerzbank For Deals That Dodge German Taxes.

* A Schlupfloch Here, A Schlupfloch There. Now It's Real Money.

* How Milwaukee Landlords Avoid Taxes.

* Study: 32 Illinois Fortune 500 Companies Holding At Least $147 Billion Offshore.

* Watch Out For The Coming Tax Break Trickery.

* When A 'Tax Bonanza' Is Actually A Huge Corporate Tax Break.

* The Hypocrisy Of Corporate Welfare: It's Bigger Than Trump.

* Oxfam Names World's Worst Tax Havens Fueling 'Global Race To Bottom.'

* Offshore Tax Havens Cost Average Illinois Small Business $5,789 A Year.

* State Tax Incentives To Corporations Don't Work.

* GOP Tax Plan Would Give 15 Of America's Largest Corporations A $236 Billion Tax Cut.

* Triumph Of The Oligarchs.

* Amazon Short-List Proves Something "Deeply Wrong" With America's Race-To-The-Bottom Economy.

* Apple's $38 Billion Tax Payment Less Than Half Of $79 Billion They Owe.

* U.S. Surpasses Cayman Islands To Become Second-Largest Tax Haven On Earth.


Previously in carried interest, aka The Billionaire's Loophole:

* Patriotic Millionaires Vs. Carried Interest.

* The Somewhat Surreal Politics Of A Private Equity Tax Loophole Costing Us Billions (That Obama Refused To Close Despite Pledging To Do So).

* Fact-Checking Trump & Clinton On The Billionaire's Tax Break.

* Despite Trump Campaign Promise, Billionaires' Tax Loophole Survives Again.

* Carried Interest Reform Is a Sham.


Comments welcome.


Posted on February 22, 2018

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