Sierra Leone Telegraph: 24 June 2020:
The Africa Initiative of the Global Forum on Transparency and Exchange of Information for Tax Purposes, will launch its Tax Transparency in Africa 2020 report in a live event at 2 p.m (Paris time) tomorrow, Thursday 25 June, 2020.
The report, a joint publication with the African Union Commission and the African Tax Administration Forum, updates for the year 2019 the inaugural report published a year earlier.
The African Development Bank is a partner of the Tax Transparency in Africa report.
The report, which covers 32 members of the Africa Initiative as well as three non-members, finds that Africa has made significant strides in the fight against tax evasion and illicit financial flows, but will need to do more to support domestic revenue mobilization.
The live launch event will take the form of a webinar presentation of the report and expert inputs from partner organizations, followed by a 10-15-minute Question and Answer session. Simultaneous interpretation in English and French will be available.
Participants are expected to include: Head of the Global Forum Secretariat Zayda Manatta; Director, Centre for Tax Policy and Administration, OECD, Pascal Saint-Amans; Victor Harrison, African Union Commission Commissioner for Economic Affairs; the African Tax Administration’s Executive Secretary Logan Wort; and the African Development Bank’s Director, Governance and Public Financial Management Abdoulaye Coulibaly.
The Africa Initiative, launched in 2014, has two cornerstones: raising political awareness and commitment; and developing capacities in tax transparency and exchange of information (EOI).
The Global Forum has a self-standing dedicated secretariat based in the OECD’s Centre for Tax Policy and Administration, in Paris, France.
The African Development Bank is an observer to the Global Forum since 2014. It also participates in the Africa Initiative. The two institutions have collaborated on subjects of joint interest, including generation of knowledge on tax transparency and technical assistance provision to African countries.
What: Live event for the Launch of the Tax Transparency in Africa 2020 Report
Who: The Global Forum on Transparency and Exchange of Information for Tax Purposes’ Africa Initiative
When: Thursday, 25 June 2020; 2 p.m. Paris time
Where: Virtual on Zoom
Please register here for the live launch event
The mechanism for tax collection in Africa is not up to standard. Its all well and good to talk about accountability and Transparency. We know billions of dollars are taken out of Africa in this type of dodgy schemes. The Panama papers report alluded to it. Sometimes its nice to shine a light in the dark corridors of power that never sees the light of day, and see what is really going on. Why for instance the African Development Bank is only playing a role of an observer on things that affect AFRICA? Help me out. Western / Asian multi national companies that operate in Africa, take full advantage of this lack of organisational structures, that needs to be in place in other to collect the right amount of taxes owed to these weak governments.
Tax evasion is not only the name of the game in town, but the game itself. And you really have to be a specialist to play the game. Although the report is saying African governments had made some strides in their tax collection regime, and been transparent about it. You will find most of the taxes paid by these multi nationals to the public purse are peanuts. Now, compared to the bribes they pay to government ministers or officials that have connection in high places in other For them to secure their lucrative operating licence, that is the difference between building that school or health centre in areas they operate. Ironically, in order to avoid paying the right tax.
One of the areas most exploited by these companies is the mining of minerals and the oil sector. You just have to look at the environmental damage being done as a result of their activities. The systemic damage or displacement to the local communities due to diamond mining in the Central African republic, the DRC, Angola, and South Sudan can’t be put in words. More like you are carrying a tag that says you are rich, but you are actually poor. For instance kono District, in Sierra Leone, they’ve been producing diamonds for our country for many decades but the residents of Kono, due to no fault of their own, hardly see the benefit.