Natural resources often rank among a country’s most valuable assets.
This is true for real estate in general but also for rights such as
telecommunications licenses. Sales of such assets may therefore give
rise to large gains for the seller—and commensurate revenue
expectations in the country where those assets are located. However,
through offshore holding structures sellers often escape taxation
altogether. Why, and what can countries—in particular low-income
countries—do to avoid losing valuable tax revenue?