Commissioner General URA, Musinguzi applauds African Tax Administrations on the exchange of information to fight Illicit financial flows.
Drake Nyamugabwa
Uganda Revenue Authority (URA), in partnership with African Tax Administration Forum (ATAF), and Global Forum (GF) are hosting tax authorities from across Africa, at the 1st ever-regional workshop on Cross-border Assistance in Recovery of Tax claims in Kampala, Uganda aimed at discussing extensively how Information exchange between member countries on Standards helps tax authorities track income so that it can be taxed and support domestic needs.
The Commissioner General URA John Musinguzi while officially opening the on Monday 27th March 20023 at Speke Resort Munyonyo applauded the great support from the Global forum rendered to the different African tax administrations in operationalizing the exchange of information.
“Here we are again to put our minds together to address the challenge that is beforehand of cross-border mobility of financial assets which some noncompliant taxpayers are taking advantage of to shift capital from one state to another with no detection. I want to take this opportunity to also thank our brothers from the Global Forum for the great support rendered to the URA and different African tax administrations in operationalizing the exchange of information," he said
The Commissioner General expresses his gratitude to ATAF for the partnership during the 1st ATAF, GF Joint Regional Workshop On Cross-Border Assistance In The Recovery Of Tax Claims, adding that with information exchange between member administrations, it will make it hard for illicit financial flows to continue.
"But I am afraid they can no longer succeed with this as long as we choose this path of information exchange where we're able to prevent these moves and recover revenue." e said
Senior Tax Policy Advisor at the Organization for Economic Co-operation and Development (OECD), Global Forum, Mr. Ervice Tchouata noted the importance of fighting Illicit Financial flows (IFFs) through the exchange of information that he said will have a significant impact on the economic stability of member countries and the global financial system
Mr. Ephraim Murenzi, ATAF Specialist: Exchange of Information re-echoed the commitment of ATAF in assisting African tax administrations to achieve their dream of improved resource mobilization through tax transparency and the exchange of tax information.
“The recovery of taxes and offshore assets kept abroad continues to be a monumental challenge to many African tax administrations. ATAF re-affirms commitment to assisting African tax administrations to achieve their dream of improved resource mobilization” he said
ATAF serves as an African network that aims to improve African tax systems through exchanges, knowledge dissemination, capacity development, and active contribution to the regional and global tax agenda will Improve tax systems that will impact increased accountability of the State to its citizen, and enhance domestic resource mobilization and thereby foster inclusive economic growth.
ATAF was established by African revenue authorities in November 2009, to improve the performance of tax administrations in Africa. ATAF believes that better tax administration will enhance economic growth, increase accountability of the state to its citizens, and more effectively mobilize domestic resources.
Meanwhile, the Global Forum on Transparency and Exchange of Information for Tax Purposes is the leading international body working on the implementation of global transparency and exchange of information standards around the world.
