Nairobi - The Executive Secretary of ATAF, Logan Wort, presented a six-pillar approach to combatting Illicit Financial Flows from Africa during the 7th Annual Tax Summit organised by the Kenya Revenue Authority from 13 to 14 October 2021.
In his address to the 5th plenary session of the Summit where panelists from various parts of the continent shared experiences in fighting IFFs, Wort underscored the importance of modernised legislative frameworks, capacity building initiatives, inter-agency collaboration and structured exchange of information mechanisms, as the guiding principles of ATAF's approach to stemming IFFs.
The approach itself focuses on the following six essential pillars:
Over the next few months, ATAF will be implanting these principles alongside partner organisations.
"We are confident that these measures will result in additional revenue for countries and combatting IFFs on the continent", said Wort. "The challenge is huge for us all, but not insurmountable if we are to focus efforts on South-South tax cooperation", he added.
KRA's Annual Tax Summit brought together tax officials and experts from the continent to reflect on the theme of Revenue Mobilisation within a rapidly evolving taxation landscape: Global Trends, Analyses & Resolutions.
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