Accra, Nov. 19, GNA – Key stakeholders in Africa’s tax sector are set to meet in Ghana to unpack domestic resource mobilisation and illicit financial flows issues in Africa.
The 11th Pan-African Conference on Illicit Financial Flows and Taxation (PAC) conference provides a platform for tax stakeholders to explore ways in which African countries can take the lead on international conversations that are beginning to have direct implications on domestic resource mobilisation and illicit financial flows.
According to a statement copied to the Ghana News Agency in Accra the conference is organised by Tax Justice Network Africa (TJNA) and The African Tax Administration Forum (ATAF and would bring together officials working on tax issues from Pan-African Organizations, tax administrations, ministries of Finance, civil society organisations, parliamentarians, and academia/researchers from Africa and beyond, on the theme “Making Global Tax Governance Work for Africa.
The conference is a platform that will enable the attendees to contribute to the development of a common African position on key international conversations that affect African countries’ efforts to raise domestic resources.
It is also a platform to identify actions and solutions for actors such as African governments, parliamentarians, civil society organisations, the private sector and other policy players that are key in mobilising domestic resources within the context and will present the opportunity to grow partnerships and collaborations between the different actors.
“To meet its development aspirations, Africa will need additional resources to respond to global crises and to realign with the priorities of both the SDGs and Agenda 2063”. According to Africa Economic Outlook 2022, the continent’s additional financial needs for 2020-2022 were estimated at USD 432 billion. Africa’s Annual Sustainable Development Goals financing gap is around USD 190 billion (African Union 2023). This gap can be bridged by developing regional value chains, improving equitable and fair entry to accessible markets through intra-Africa trade and revenue mobilisation through effective and inclusive tax collection and combatting IFFs.
PAC 2023 explores the aspect of forging partnerships and collaborations to promote and mobilise action amongst tax sector players.
Strengthening these alliances is essential for African countries to take the lead on international conversations on domestic resource mobilisation and illicit financial flows in the continent.
GNA