Tax experts to discuss illicit financial flows, tax evasion in Africa

The African Tax Administration Forum (ATAF), a group of tax expects in Africa will be meeting in Balaclava, Mauritius next week, to discuss ways of bringing sanity into the financial sector on the  African continent.

Under the theme “The International and Domestic Aspects of Tax Fraud, Evasion and Avoidance,” the meeting will take place from July 25 to 27, 2011.

The meeting, which is ATAF’s first General Assembly, “will focus on illicit financial flows, tax evasion and tax avoidance among other issues,” according a press release issued and copied to ghanabusinessnews.com from its Secretariat in Pretoria, South Africa.

“Illicit financial flows from the least developed countries have increased from $9.7 billion in 1990 to $26.3 billion in 2008, implying an inflation-adjusted rate of increase of 6.2% per annum,” said ATAF citing a study commissioned by the United Nations (UN).

During meeting deliberations, it will also discuss the distinctions between tax havens and genuine attempts to offer tax incentives for attracting foreign investments to stimulate economic national development.

ATAF, launched in Kampala, Uganda November 2009, is to provide a platform for African tax administrators to address common tax policy matters and capacity building initiatives to support social and economic development.

It has 34 member revenue agencies from various African countries including Ghana.

By Ekow Quandzie