The Egyptian Initiative for Personal Rights has launched a new report that details the loss to the Egyptian Treasury though tax avoidance.

The report was written by Osama Diab, an alumni of the Finance Uncovered programme. It analyses Egyptian government data and finds that between 1970 and 2013 $12bn was invested from tax havens. Using an estimate of a return on capital of 20% the report finds that the Egyptian treasury could be losing 5bn Egyptian pounds (€590m) a year through tax havens.

The report is currently in Arabic only. An English version is in the pipeline but the website Mada Masr has covered the report on their website.

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