All material subject to strictly enforced copyright laws. © 2022 ITR is part of the Euromoney Institutional Investor PLC group.

OECD’s transparency forum expands in Africa

oecdsmall.jpg

The OECD’s Global Forum on Tax Transparency has welcomed its two newest members – Burkina Faso and Cameroon.

“We are delighted to welcome Burkina Faso and Cameroon as new Global Forum members,” said OECD secretary-general Angel Gurria.

The rise in prominence of taxation and transparency issues is being seen in many developing countries, and the addition of Burkina Faso and Cameroon to the Global Forum will ensure this continues. The fact that the African Tax Administration Forum (ATAF) has been an observer of the Global Forum has also helped to facilitate tax cooperation on the continent.

“They [Burkina Faso and Cameroon] are now among the jurisdictions directly involved in the international effort to make tax systems worldwide transparent and fair to all,” said Gurria. “Following their lead and that of other African countries, we look forward to continue strengthening international and regional cooperation in Africa. Domestic resource mobilisation through a transparent and effective tax system is a key element for successful development policies.”

The Global Forum is meeting in Cape Town over Friday 26 October and Saturday 27 October. The OECD said it is expecting representatives from more than 80 jurisdictions and seven international organisations. The meeting will build on the work of the forum’s phase two review process, which is examining the effectiveness of countries’ exchange of information practices.

More from across our site

This week European Commission officials consider legal loopholes to secure minimum corporate taxation, while Cisco and Microsoft shareholders call for tax transparency.
The fast-food company’s tax settlement with French authorities strengthens the need for businesses to review their TP arrangements and documentation.
The full ALP model will be adopted through a new TP regime, which is set to boost the country’s investments and tax certainty.
Tax professionals have called on the UK government to reconsider its online sales tax as it would affect the economy at the worst time.
Tax professionals have called on companies to act urgently to meet e-invoicing compliance targets as the EU plans to ramp up digitisation.
In the wake of India’s ambitious 25-year plan for economic growth, ITR has partnered with leading tax commentators to discuss what the future will look like for India and for the rest of the world.
But experts cast doubt on HMRC's data and believe COVID-19 would have increased the revenue shortfall.
EY’s plan to separate its auditing and consulting businesses might lessen scrutiny from global regulators, but the brand identity could suffer, say sources.
Multinationals are asking world leaders to put a scale on carbon pricing to tackle climate change at the 48th G7 summit in Germany, from June 26 to 28.
The state secretary told the French press that the country continues to oppose pillar two’s global minimum tax rate following an Ecofin meeting last week.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree