African countries are losing out on significant tax revenues from multinational companies despite the “huge profits” those companies are making.

That’s according to the Deputy Director-General of the European Commission’s International Cooperation and Development directorate.

Klaus Rudischhauser was recently at the International Monetary Fund (IMF) in Washington DC.

Many of the countries whose raw materials are being exploited by multinationals are powerless to do anything about it, as Mr Rudischhauser explained to Mark Bettencourt.

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