Fourteen of the twenty largest company on the Johannesburg stock exchange have at least one subsidiary in the Netherlands. 20 billion Euro coming directly from South Africa is stored in Dutch shell companies.
Dutch tax law favours foreign companies and the country has many tax treaties with other countries all over the world. Multinational corporations therefore use the Netherlands as a pass-through, in an effort to lower their tax burden.
A team of Dutch and South African journalists analysed financial structures of several of these South African companies and showed the ways in which both companies are intertwined. Published in weeklies De Groene Amsterdammer and Mail & Guardian.
This investigation was funded through Journalismfund.eu's Connecting Continents programme.
Photo CC © screenpunk
- Een kamerplant doet wonderen (NL) - De Groene Amsterdammer (Netherlands), 1 September 2016
- How the Dutch rapped Naspers over the knuckles for tax, while its BEE scheme flopped (EN) - Mail & Guardian (South Africa), 1 September 2016