NAMIBIAN PRESIDENT CALLS FOR STRENGTHENING OF TAX SYSTEM BY AFRICAN COUNTRIES

African countries should strengthen their tax systems to collect more revenue, said Namibian President Hage Geingob at a meeting of African leaders at the Financing Retreat of the African Union (AU) summit in Kigali, Rwanda.

This, he said, will require urgently exploring the need to curb illicit financial outflows as it is estimated that the total amount of illicit outflows is much higher than the total donor assistance to the African continent.

he added that tax administration to improve compliance was required, as well as co-operation across borders to follow and retrieve illicit outflows. AU member states should also strengthen their financial positions by paying their contributions on time and for those which are in arrears, to clear such arrears as soon as possible.

"In terms of members' contribution to the AU, we agree that such contribution should be based on the principles of transparency, fairness and equity," Geingob said.

He noted that challenges remained high with regard to peacekeeping operations which were extremely expensive.

However, "governance architecture should be strengthened by putting in place transparent and robust processes, systems and institutions required to prevent member states from spiraling into conflict".

Source: NAM NEWS NETWORK

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