African countries generated additional tax revenues of €1.69 billion ($1.86 billion) thanks to the exchange of tax information between countries.
According to the 2023 Africa Tax Transparency Progress Report unveiled at the thirteenth Africa Initiative meeting in Cape Town, South Africa, from 2009 to 2022, cooperation processes among African countries effectively boosted tax revenues, interest, and penalties.
The report presents the progress made by 38 African countries in tackling tax evasion and other illicit financial flows through transparency and information sharing.
Source (Asharq Al-Awsat Newspaper, Edited)
