In a joint investigation with The Namibian, we established that the southern African country missed out on capital gain tax worth N$ 219m (US15.8m) when Australian firm, Paladin Energy sold a 25% stake in its uranium mine to the Chinese National Nuclear Corporation.

By transacting the sale offshore in Mauritius, Paladin claimed it was not liable to pay capital gains tax on the profits it made on the sale.

Our story had significant impact. Namibian tax officials admitted they were not aware of the deal until we quizzed them about it. A day after publication, the Namibian treasury released a statement confirming it was trying to claw back the tax it says it is owed. And BBC World followed up our story.

Read the full investigation on the Namibian website here

 

George Turner

Posted by George Turner

George is an investigative journalist and one of the founders of Finance Uncovered. George has a wide variety of interests. Before entering the world of journalism he worked for a senior politician in the UK, and wrote a paper on how the murky world of offshore finance in the UK water industry was giving customers a raw deal. He has written articles on tax avoidance, corruption and the broken housing market. His articles have appeared on the front pages of newspapers in Germany, the UK and South Africa. You can email George at <a=href:"mailto:george@financeuncovered.org" Email