What do Argentina, India, and South Africa have in common with Jersey, Cayman and the Turks and Caicos? They’ve just agreed to share financial information with each other, for tax purposes.
CGD Policy Blogs
So, if transparency is good for development, what about development think tanks? Spurred in part by Transparify and the frank constructive discussions about think tank strategy by Enrique Mendizabal’s On Think Tanks blog and Andrew Selee’s book What Should Think Tanks Do?, we also wanted to up our game.
The African Development Bank estimates that illicit financial flows have drained in excess of a trillion dollars from Africa since 1980. These flows undermine the tax base, damage political institutions and exacerbate inequality. With major momentum behind global counter-measures, there are clear opportunities for progress at the regional level – including through stronger information exchange and cooperation, tax base harmonization and innovative uses of trade data.