2023-07-11 11:00:40
The “Tax Transparency in Africa 2023” report was recently unveiled by the AfDB.
Progress : Tax transparency has scored points in Africa in recent years. According to the report “Tax Transparency in Africa 2023: Africa Initiative (TFeA) Progress Report”, significant progress has been made. More and more African countries are joining global efforts to fight tax evasion through tax transparency, the same source said.
The tax transparency agenda has advanced considerably in Africa. However, much remains to be done to ensure the effective implementation of transparency and exchange of information standards and to derive benefits from them within the framework of the domestic resource mobilization efforts of African countries. This is what emerges from the report “Tax Transparency in Africa 2023: Progress Report of the Africa Initiative (TFeA)”.
This document addresses several areas such as the essential role of tax transparency in the fight once morest illicit financial flows in Africa, the evolution of tax transparency in Africa in 2022, the progress made by African countries in the implementation of standards fiscal transparency, the use of fiscal transparency to mobilize domestic resources as well as prospects.
In detail, 37 African countries including Morocco are members of the Africa initiative created in 2014 following the Global Forum on Transparency and Exchange of Information for Tax Purposes. The aim being to unlock the potential of tax transparency and exchange of information for Africa by ensuring that African countries are equipped to harness improvements in global transparency to better combat tax evasion . The said report includes information provided by 38 African countries, the highest number since the first edition of the report in 2019. According to the same source, “remarkable progress in 2022” has been achieved on the two strategic axes of the Africa Initiative, namely raising awareness and political commitment in Africa and developing the capacity of African countries on tax transparency and exchange of information (EI). Morocco is among the 10 countries (South Africa, Ghana, Kenya, Mauritius, Nigeria, Uganda, Rwanda, Seychelles, Tunisia) whose implementation of automatic exchange of financial account information in Africa is planned for 2025 In addition, Morocco is essentially compliant with the standard on exchange of information on request.
It should be noted that the said document is the fifth edition of this annual report which takes stock of the progress made by African countries in the fight once morest tax evasion and other illicit financial flows (IFFs) thanks to the strengthening of tax transparency and exchange of information (ER). It is a joint publication of the African Union Commission, the African Tax Administration Forum and the Global Forum on Transparency and Exchange of Information for Tax Purposes.
This document is the result of the Africa Initiative launched nine years ago by the Global Forum, its African members, partners and donors to unlock the potential of RE for African countries.
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