IN a joint
statement on the fight against illicit financial flows, by OECD Secretary-General
Angel Gurría and Thabo Mbeki, Chair of the High Level Panel on Illicit Financial
Flows from Africa, it was stated that both have focused attention on this
problem and have identified ways in which to tackle it. In the wake of recent
revelations in the media exposing the use of secrecy, shell companies, and
offshore accounts for illegal activities, there is an urgent need for the international
community to come together, as money-laundering, tax evasion and international
bribery which form the bulk of IFFs, affect all countries.
While there has been significant progress in the past few years due to a global
crackdown on opacity and secrecy in financial and tax matters, more needs to
be done. The Governments of African countries and the rest of the world should
come together and strengthen the efforts to foster even greater international
cooperation to end the illegal practices which continue to harm all communities.We
resolve to ensure that African countries can fully benefit from the ongoing
international efforts at improving tax transparency and call upon all African
countries to join these efforts. We acknowledge the important role played by
the work of the Global Forum on Transparency and Exchange of Information in
bringing about financial transparency in tax matters. We encourage all African
countries to participate in this work on an equal footing, and to join almost
100 other jurisdictions in signing the Multilateral Convention on Mutual Administrative
Assistance in Tax Matters.
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