Tax forum reminds businesses that there's money to be made in Africa

Many countries have reduced tax payments to encourage companies to keep local operations. But the African Tax Administration Forum's executive secretary Logan Wort said there were other factors which businesses considered.

Picture: Sethembiso Zulu/Eyewitness News

JOHANNESBURG - The African Tax Administration Forum said the continent signed away billions of dollars through tax incentives for businesses.

Speaking at the 5th high level tax policy dialogue, the forum's executive secretary Logan Wort reminded businesses attending to come to Africa because there was money to be made and not because of incentives.

Many countries have reduced tax payments to encourage companies to keep local operations. Wort said there were other factors which businesses considered.

“It is not tax incentives that attract direct investment, that’s a myth. Direct investment is attracted to a stable economy, good infrastructure, a good educated workforce and political stability. Those are things that attract investment,” said Wort.

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