African countries make progress in tackling tax evasion and money laundering- 2020 Tax Transparency report says

AFRICA – The 2020 Tax Transparency report has revealed that African countries made great strides in tackling tax evasion and money laundry, and improved on commitments and capacity to achieve tax transparency and exchange information on illicit fund flows in 2019. According to the 2020 tax transparency report, Illicit financial flows in Africa are estimated at between $50 billion and $80 billion annually. The tax transparency report also claims that about 44% of Africa’s financial wealth is thought be held offshore, which corresponds to tax revenue losses of €17 billion.…

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