Tax, Revenue Leakages: Adeosun Speaks At UN, OECD’s Confab

BY EDMOND ODOK, ABUJA – The Minister of Finance, Mrs Kemi Adeosun will deliver Nigeria’s position on tax and revenue leakages as one of the key speakers at the Platform for Collaboration on Tax Conference at the United Nations in New York on Thursday, February 15, 2018.

Equally, the Minister of Finance is expected to hold a private meeting with the Head of OECD Global Forum on Exchange of Information, Ms Monica Bhatia, on the sideline of the Platform to further espouse the country’s efforts at global partnership on tax payer information.

A shared initiative of the United Nations, Organisation for Economic Cooperation and Development (OECD), International Monetary Fund and World Bank Group, the Platform for Collaboration on Tax (PCT) Conference will take place from February 14 to 16, 2018.

A statement by Oluyinka Akintunde, Special Adviser on Media and Communications to the Minister, said Mrs Adeosun’s invitation letter, signed by OECD’s Director of Centre for Tax Policy and Administration, Pascal Saint-Amans, indicates that she will also feature in a panel to discuss ‘Revenue Leakages: Illicit Financial Flows’.

Saint-Amans, who maintained that tackling illicit financial flows is a priority for most countries, said the panelists are expected to address the impact of Illicit Financial Flows (IFFs), particularly those caused by tax evasion and corruption on sustainable development.

He further said that, “The Panel of discussants will discuss measures, both at the national and international level, which may help to reduce IIFs and identify opportunities to increase cooperation among range of actors tackling IFFs.

“The measures should also cover policies and actions that may address the underlying behaviours that give raise to IFFs, as well as the challenges limiting progress and taking into consideration fragile settings.”

According to Saint-Amans, the organization will be honoured to have the Minister’s presence at the programme, ‘given the strong support Nigeria has shown for international cooperation on tax.’

On the Finance Minister’s private meeting with Ms Monica Bhatia, Akintunde said it will focus on Nigeria’s efforts for developing international networks and collaboration with other countries to secure tax payer information.

He said the maiden PCT Conference, with the theme: ‘Taxation and the Sustainable Development Goals (SDGs)’, will focus on the opportunities and challenges for taxation and its role in supporting the SDGs.

The coverage areas include practical aspects of tax policy and administration, as well as encouraging an open sharing of experience and views on how to ensure taxation policy and practices can improve SDG outcomes.