STEALING AFRICA

How much profit is fair?

Rüschlikon is a village in Switzerland with a very low tax rate and very wealthy residents. But it receives more tax revenue than it can use. This is largely thanks to one resident – Ivan Glasenberg, CEO of Glencore, whose copper mines in Zambia are not generating a large bounty tax revenue for the Zambians. Zambia has the 3rd largest copper reserves in the world, but 60% of the population live on less than $1 a day and 80% are unemployed. Based on original research into public documents, the film describes the tax system employed by multinational companies in Africa.

Directed by Christoffer Guldbrandsen. Produced by Henrik Veileborg.                                 Production company Guld­brandsen Film. Running time: 58.27 min 

Synopsis

Rüschlikon is a sleepy village in Switzerland, where house prices are soaring, unemployment virtually non-existent and social problems few and rare. Discretion is the local watch word, as Mayor Bernard Elsener puts it, “you can be rich, but please do not show it.” The good fortune of the village was recently cemented by the arrival Ivan Glasenberg, CEO of commodity giant Glencore, who netted $9.6 billion when his company went public in 2011. Receipt of Glasenberg’s taxes overwhelmed public coffers to such an extent the mayor decided to lower the tax rate.

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