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Africa Embraces Information Sharing to Curb Tax Evasion

June 25, 2020, 6:25 PM

An information-sharing network for financial flows has allowed eight countries in Africa to secure millions in extra revenue, according to the OECD.

The exchange of information allowed those countries to get $189 million in extra revenue from 2014-2019. The EOI network of African countries expanded to 3,262 bilateral relationships last year, up from 685 in 2013, according to the annual Tax Transparency in Africa 2020 report released Thursday. The report was published by OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes.

“This is mainly due to the growing number of countries joining the Convention on...

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