Q FM Africa's Modern Radio
The Civil Society for Poverty Reduction (CSPR) is gratified by the decision of the just ended African Union Summit of Heads of State and Government in Addis Ababa, Ethiopia to adopt the report on illicit financial flows.
CSPR Eastern Province Coordinator Maxson Nkhoma has told QFM News that the decision comes at a critical time when Africa is looking for more sustainable ways to fund development including the implementation of Sustainable Development Goals expected to be approved by the UN in September 2015.
Mr. Nkhoma states that the decision taken by African Leaders is sending a clear signal to the world that they plan to clamp down on the loss of more than 50 billion dollars from Africa per year through illicit cash flows.
He notes that multinational companies have over the years been identified as the major culprits of illicit cash flows largely through tax dodging.
Mr. Nkhoma states that some multinational Companies have been depriving Africa of vitally needed funds to pay for schools and hospitals and are undermining the continent’s ability to end Poverty and increase growth due to weak existing laws.
He adds that Zambia has not been speared by negative effects of tax dodging through illicit cash flows mostly orchestrated by multinational companies in various sectors such as mining, sugar processing and agricultural sectors among others.
Mr. Nkhoma says there is need therefore for the Zambian Government to provide adequate financial, political and moral support to the Zambia Revenue Authority (ZRA) to build their capacity through training in modern global practices in Domestic Revenue Collection and Tax Mobilization if Zambia is to win the fight against tax avoidance and illicit cash flows.