On 25 June, a release on Mondo Visione advised that the report depicts the state of play for 32 African Union Member States and others. It shows the progress achieved on the 2 cornerstones of the Initiative – raising political awareness and commitment and developing capacities in tax transparency and exchange of information (EOI). Tax transparency and EOI have a crucial role to play in helping African governments stem illicit financial flows (IFF) and increase domestic revenue mobilisation. The article and report refer to the growing number of countries joining the OECD Convention on Mutual Administrative Assistance in Tax Matters Despite this and other progress, important challenges remain ahead, among which the expansion of staff’s knowledge, the availability of beneficial ownership information and the effective implementation of AEOI.
The report itself is available at –
https://www.oecd.org/tax/transparency/documents/Tax-Transparency-in-Africa-2020.pdf
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