Sub-Saharan Africa is leading all other regions on illicit financial flows. If the continent is to improve the lives of its citizens, then stemming these illegal flows and improving domestic resource mobilisation is crucial. By LOGAN WORT.
Earlier in August, the African Tax Administration Forum brought together 16 African Ministries of Finance and tax administrators, as well as legislators, academics and civil society, among others, in a high level dialogue to discuss ways of improving domestic revenue mobilisation on the continent.
This was the first such occasion of an event that is likely to become an annual feature. The Tax Policy Dialogue in Kampala, Uganda, sought to forge a crucial network that will ensure coordinated tax policy and tax administration decisions and actions in the ever-changing global tax environment.
Over 60 delegates spent two days devising a framework under which both tax policy and tax administrators could lay strategies to stem the steady drainage of Africa's resources and seal any gaps that affect efficient domestic revenue mobilisation.
If Africa is to improve the lives of its citizens and meet the global Sustainable Development Goals, then stemming illicit financial flows and improving domestic resource mobilisation in Africa is crucial to our...