Conferences and summits: InfoPoint conference: Fostering change - tax-motivated illicit financial flows
The Study on tax-motivated illicit financial flows acknowledges that a sizable portion of IFFs is driven by tax-related motives, often involving sophisticated schemes that exploit legal loopholes in the international tax system. Given the lack of a universally accepted definition for IFFs, the study proposes a developmental approach that includes both illegal (tax evasion) and illicit activities (tax avoidance). It underlines the challenges in measuring IFFs and their direct impact in devising effective and timely policy responses and the need for improved governance and transparency to prevent revenue losses. Taking stock of global efforts by various stakeholders — including the European Commission, African Union, African and international organizations — to foster standards, build capacities, and promote cooperation in the fight against these flows, the study concludes with specific recommendations. They emphasise strategic intermediation, strengthening partnerships, and innovative capacity building to support African nations in addressing (tax-related) IFFs.
This Info Point is designed to gather experts in the field to offer their insights on current obstacles and potential solutions, while considering the report's suggested actions. The discussion will broadly cover the topic of Illicit Financial Flows (IFFs), delving into both policy and operational strategies to curb tax-related IFFs, and will explore future directions to accelerate progress.
Language: English
Q&A session languages: English
