Oxfam calls on African leaders to make tax top of the agenda at July UN Financing for Development Conference

In response to discussions on financing Africa’s development at the African Development Bank 2015 Annual Meetings this week in Abidjan, Cote d’Ivoire, Vanessa Inko-Dokubo, Oxfam’s Senior Policy Advisor said:

“The international tax system is broken and unfair. Africa and other developing countries are severely hampered in their ability to raise more tax revenue by a system that facilitates tax dodging by multinational companies, favours rich countries where multinational companies are resident, and encourages poor countries to give even more generous tax breaks and lower tax rates to attract foreign investment. The July FfD3 Conference is the perfect time to ensure all parties agree to tackle this problem.

“We have evidence that African countries are losing billion dollars in illicit financial flows every year (i) : things won’t change if African governments don’t push for it at the international level. African leaders must stand together and call for a global ministerial roundtable on international tax reform. The roundtable should have the mandate to create a roadmap for a fairer future tax system, including the creation of an intergovernmental body on international cooperation in tax matters under the UN. Only then will we have an inclusive political framework where all countries can participate in tax negotiations on an equal footing (one country, one vote).

“Without this fundamental rebalancing of the global tax system, Africa will be deprived of significant resources required to drive its structural transformation.”