“CFC is not a tax haven. Enterprises do not come to Morocco for its tax regime,” the Moroccan paper quoted the CFC chief as saying. The UAE was placed in the EU’s tax haven black list. Ibrahimi said that investments by CFC companies were materialized in 46 African states as the financial center aims at raising $100 billion in Africa. For now, some $5 billion dollars have been invested by CFC companies across the continent in fields such as renewable energy, finance and infrastructure.
Source: The North Africa Journal June 19, 2019 00:33 UTC