Ghana to benefit from G20 commitment to tackle tax evasion

Author: Samuel Hinneh, GhanaWeb, Published on: 29 November 2014

'Ghana to benefit from G20 commitment to tackle tax evasion', 20 Nov 2014: The group of twenty (G20) industrialised and emerging nations have agreed at the 2014 Brisbane G20 Leaders’ Summit to fight tax evasion...a move that would...[benefit] Ghana and other developing countries...“To prevent cross-border tax evasion, we endorse the global Common Reporting Standard for the automatic exchange of tax information (AEOI) on a reciprocal basis. We will begin to exchange information...by 2017 or end-2018...’’ says the...Summit communique. The African Union estimates that Africa loses up to $60 billion each year due to tax dodging...companies...more than they receive in aid from rich countries...Friederike Röder, from The ONE Campaign [said]...“...the G20’s...principles state that transparency of beneficial ownership of legal persons and arrangements is a high priority, yet they have not agreed to put information in the public domain. It is critical that people have information on what governments and businesses are doing so that they can be held to account...”...

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