About: illicit financial flows

Africa 13-09-2018

Progress remains slow in bridging Africa’s tax divide

Increasing the tax take in African countries lies at the heart of the global development goals agreed by world leaders in 2014 and 2015. But progress towards meeting that goal has been slow.
Africa 22-02-2018

Illicit financial flows cost Africa $50 billion a year, states new report

Illicit financial flows cost African countries at least $50 billion every year, more than the total development aid the continent receives, according to a new report by the OECD. EURACTIV.fr reports.
Euro & Finance 12-02-2016

Suspicious bank notes lead to Luxembourg

One third of all cash in circulation in the eurozone is now in the form of €500 notes. Suspicions have been raised over Luxembourg, which prints double its GDP in banknotes each year. EURACTIV France reports
Development Policy 11-12-2015

Financing development through better domestic resource mobilisation

Domestic resources are the largest, most important and most stable source of finance for development, writek Gail Hurley and Nergis Gülasan.
Euro & Finance 05-11-2015

Remember the fifth of November: Gunpowder, treason and tax?

This 5 November will not just be the anniversary of an attempt to destroy the Houses of Parliament, but also the anniversary of Luxleaks, write Elena Gaita and Alex Johnson. 
Development Policy 11-09-2015

Piketty: EU must demand more transparency from companies in Africa

The European Union should require companies operating in Africa to disclose the taxes they pay there more transparently, to ensure they contribute fairly to government revenues, French economist Thomas Piketty said on Thursday (10 September).
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Development Policy 23-07-2015

INFOGRAPHIC: Curbing illicit financial flows is a resource for Africa

Over the last 50 years, Africa is estimated to have lost in excess of $1 trillion in illicit financial flows (IFFs). This sum is roughly equivalent to all of the official development assistance (ODA) received by Africa during the same timeframe. Currently, Africa is estimated to be losing more than $50 billion annually in IFFs.
Development Policy 10-07-2015

Tax evasion to dominate Addis Ababa development conference

Stopping tax evasion in the Global South is a crucial step in raising development finance, but the issue has divided the international community. EURACTIV France reports. 
Development Policy 31-03-2015

Illicit Financial Flows and development aid

In February, a team of journalists exposed a tax evasion system used by the Swiss subsidiary of HSBC.