According to the recent Revenue Statistics in Africa report, a publication of the Organisation for Economic Co-operation and Development (OECD) released jointly with the Centre for Tax Policy and Administration (CTP), the OECD Development Centre (DEV), the African tax Administration Forum (ATAF) and the African Union Commission (AUC), domestic revenue mobilization in Africa is significantly low, compared with other geographic regions, mainly because of the limited size of the manufacturing sector and to its reduced contribution - in terms of taxes collected from this compartment of the economy - to the budget of African States. In 2017, on average, tax revenues collected by inland revenues authorities in Africa represented only 17.2% of GDP, while in Latin America and Caribbean countries this percentage reaches 22.8% and 34.2% in OECD countries.
Sunday, May 19, 2024
