Accounting for poverty: new report
"ActionAid has calculated that, if all developing countries were able to raise just 15% of their national income as tax revenue – a commonly accepted minimum figure – they could realise at least an additional US$198 billion (£99 billion) per year. This amount is more than all foreign development assistance combined, and enough to meet and exceed the annual MDG funding gap."
And they quote the Kenya Revenue authority slogan:
"Pay your taxes and set your country free."
They make three crucial main recommendations"
- "Country by Country reporting
- Better tax information exchange
- Stronger taxing rights for developing countries on cross-border investments and trade."
- Tax businesses fairly
- Invest in tax authorities