Sovereign Debt Management Policy Lead at AFRODAD|Public Finance Management Expert|Africa Regional Economic Communities Debt Advisor|IMF, World Bank, and Multilateral Development Banks (MDBs) Policy Analyst
One of the best conversations I had with great minds on the #UNTaxConvention During this year's Pan-African Conference on Illicit Financial Flows (IFFS) and Taxation: THEMED: “Africa’s Tax Agenda in Combatting Illicit Financial Flows: From Words to Action” which took place in Tunis, Tunisia from 26th – 28th June 2024------ I was privileged to be in the panel with one main objective: Dissecting the Nexus between Debt and Illicit Financial Flows (IFFS) and Taxation conundrum in Africa One major issue that came out-- Illicit financial flows are multidimensional and transnational in character. Like the concept of migration, they have countries of origin and destination, and there are several transit locations. The whole process of mitigating illicit financial flows, therefore, cuts across several jurisdictions. For instance, debt shifting through intragroup financing, whereby an affiliate in a high-tax jurisdiction borrows from an affiliate in a low-tax jurisdiction in Africa and pays an artificially high interest rate to reduce its profits and tax burden MUST be stopped. #GlobalSouthisNotAdumptingSite African Forum and Network on Debt and Development (AFRODAD) Recourse Eurodad - the European Network on Debt and Development UN Trade and Development (UNCTAD) African Union - Economic Development, Trade, Tourism, Industry, Minerals (ETTIM) African Union GIZ African Union Tax Justice Network Africa
African countries and civil society organisations have called for the inclusion of human rights in the proposed #UNTaxConvention. Read more; https://tjna.me/3Bt0Ssw #TaxJusticeAfrica #AfricaAgainstIFFs Like, comment, share
