Tax avoidance is at the hear of developing countries’ inability to fund vital public services (most importantly, health, education and infrastructure) for lack of sufficient budget. Emphasis is often placed on “plunder through the dubious extractive industry dealings”. The inconvenient truth, however, is that in numerous cases in Sub-saharan Africa, political leaders at the highest levels are complicit for their own personal financial gain.
Are the G8 and G20 willing to incorporate those cases into policies/practices that deal with transparency that will not only address tax evasion, but also the outright theft of national financial resources by countries’ own leaders?
– Kevin Watkins of ODI
(Overseas Development Institute)
- Tax evasion still crippling Africa as rich countries fail to deliver support (guardian.co.uk)
- ActionAid responds to G8 tax deal saying “still a long way to go” (actionaidusa.org)
- OECD official optimistic G8 tax plans mark beginning of end to secret money (trust.org)
- The G8 summit: Reasons to be cheerful | The Economist