Africa loses $89bn annually to illicit financial flows – Tax experts

Africa loses $89bn annually to illicit financial flows – Tax experts

The experts recommend solutions such as prioritising global tax reforms, information sharing, and tax transparency against illicit financial flows. The post Africa loses $89bn annually to illicit financial flows – Tax experts appeared first on Premium Times Nigeria.

Africa  Loses $89bn Annually to Illicit Financial Flows

By Lizzy Chirkpi Tax and financial experts have raised an alarm over the massive revenue losses suffered by African countries through illicit financial flows (IFFs), revealing that the continent loses an estimated $89 billion annually to tax evasion, profit shifting and other harmful financial practices. The warning was issued on Tuesday during an interactive session between members of the Economic Community of West African States Parliament, th…