SouthViews No. 223, 14 July 2021
Financial integrity for sustainable development: Importance of developing country joint action on tax, corruption and money-laundering
By Dr. Ibrahim Mayaki
Countries are beginning to realize that the landmark agreement on the Sustainable Development Goals will be unrealized if financing is not found for the agenda. Much of that financing can be found if illicit financial flows are stopped. In March 2020, the Presidents of the United Nations General Assembly and Economic and Social Council convened a High-Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (FACTI Panel) to review global cooperation and recommend further actions by the international community as a contribution. Dr. Ibrahim Mayaki, the Co-Chair of the FACTI Panel, outlines the measures that the FACTI Panel recommended to combat tax abuse, corruption and money-laundering. He emphasizes the importance of developing countries taking a leading role in proposing solutions, and the value of inclusive international institutions. The text below is based on remarks that were made at a briefing to the Group of 77 and China in Geneva in April 2021, jointly organized by the FACTI Panel Secretariat and the South Centre. The Panel’s full report can be read at: http://www.factipanel.org/report.
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This article was tagged: 2030 Agenda for Sustainable Development, Corporate Tax, Corruption, COVID-19, Digital Taxation, Global Pact for Financial Integrity for Sustainable Development, High Level Panel on Illicit Financial Flows from Africa, HLP on International Financial Accountability Transparency and Integrity for Achieving 2030 Agenda (FACTI Panel), Illicit Financial Flows (IFFs), International Taxation, Investment, Money-Laundering, Multinational Corporations (MNCs), Organisation for Economic Co-operation and Development (OECD), Pandemic, Sustainable Development, Sustainable Development Goals (SDGs), Tax, Tax Avoidance, Tax Cooperation, Tax Law, Tax Policy, Tax Reform, Tax Transparency, Taxing Rights, Thabo Mbeki, UN Office on Drugs and Crime (UNODC), UN Tax Convention, United Nations (UN), United Nations Committee of Experts on International Cooperation in Tax Matters (UNTC), United Nations Conference on Trade and Development (UNCTAD)