Examining tax-related illicit financial flows and efforts to combat them: A country perspective from South Africa
Apr 1, 2022 | 12:30 PM CEST - 2:00 PM CEST
Apr 1, 2022 | 12:30 PM CEST - 2:00 PM CEST
Description
Tax evasion and other forms of illicit financial flows (IFFs) are a major policy challenge for developing and emerging economies, particularly in light of the increased fiscal pressures arising from the COVID-19 pandemic. Tackling IFFs will support domestic resource mobilisation and help countries achieve the Sustainable Development Goals (SDGs).
Recent multilateral action, including the implementation of the Common Reporting Standards (CRS) has been a game changer in the fight against tax-related IFFs, with more than EUR 112 billion of additional revenues collected. However, the broader IFF space is still poorly understood, and IFFs as a whole are poorly measured.
Drawing on current work between the OECD and South Africa National Treasury, this session will discuss how countries can continue to fight IFFs, through information exchange and better use of data, improved interagency cooperation and by improving the availability of data and analysis.