Chronicle Editor
Business Reporter
THE need to enhance domestic revenue mobilisation is under focus at the ongoing 5th Africa High-level Tax Dialogue Policy, which is being held virtually.
As the continent ponders strategies to foster solid recovery from the devastating economic impact of Covid-19, tax experts view domestic tax, as opposed to donor aid, as critical to sustainable development.
The African Tax Administration Forum (ATAF) is hosting the two-day virtual conference in collaboration with the African Union Commission and supported by the African Development Bank (AfDB).
ATAF executive secretary, Mr Logan Wort, has just delivered his opening remarks reiterating that the future of Africa lies in enhanced domestic revenue and calling for more tax transparency and review of tax holidays that give away potential revenue to multinational corporations.
“The advent of Covid-19 continues to take the world through a path that has forced many of us to contend with uncertainty, though human resilience and technology to prevail through creative means to overcome all odds,” says Mr Wort.
Titled “Post-Covid Taxation: Policy and Administrative Strategies for mobilising enhanced domestic tax in Africa”, the forum seeks to build a closer link between tax policy makers and tax administrators, development partners, tax experts, academics, civil society organisations (CSOs), and research organisations.
“As African countries strive to recover from the Covid-19 pandemic, this high-level dialogue aims to deliver outcomes that will help countries shore up domestic tax revenues,” said ATAF in an update.
“These revenues are vital for governments to meet critical expenditure needs and other requirements such as social security nets for poorer households that the Covid-19 pandemic has adversely impacted.”
In its past editions, the annual dialogue forum has proffered solutions for African countries in dealing with critical issues such as the global tax agenda and taxing the digital economy.
Online Reporter