Adeosun to Discuss Revenue Leakages, Illicit Financial Flows at UN

By Dipo Olowookere

Nigeria’s Minister of Finance, Mrs Kemi Adeosun, has been invited by the Organisation for Economic Cooperation and Development to speak at the Platform for Collaboration on Tax Conference on Thursday, February 15, at the United Nations in New York.

Also, the Minister would be in a panel at the meeting to discuss ‘Revenue Leakages: Illicit Financial Flows.’

The Platform for Collaboration on Tax (PCT) Conference, which will hold between February 14 and 16, 2018, is a collaborative initiative of the United Nations, Organisation for Economic Cooperation and Development (OECD), International Monetary Fund (IMF) and the World Bank Group.

According to the Director of Centre for Tax Policy and Administration, OECD, Mr Pascal Saint-Amans, who signed the invitation letter to Mrs Adeosun, tackling illicit financial flows is a priority for most countries.

He said at the conference, the panellists will address the impact of the Illicit Financial Flows (IFFs), particularly those caused by tax evasion and corruption on sustainable development.

“The panel of discussants will discuss measures, both at the national and international level, which may help to reduce IIFs and identify opportunities to increase cooperation among range of actors tackling IFFs.

“The measures should also cover policies and actions that may address the underlying behaviours that give raise to IFFs, as well as the challenges limiting progress and taking into consideration fragile settings.

“We would therefore be honoured to have your presence on our programme, given the strong support Nigeria has shown for international cooperation on tax,” Mr Saint-Amans said in the letter to the Finance Minister.

Meanwhile, Mrs Adeosun will have a private meeting with the Head of OECD Global Forum on Exchange of Information, Ms Monica Bhatia, on the sidelines of the Platform for Collaboration on Tax Conference.

The meeting will focus on Nigeria’s efforts for developing international networks and collaboration with other countries to secure tax payer information.

The inaugural PCT Conference, which has as theme ‘Taxation and the Sustainable Development Goals (SDGs),’ will focus on the opportunities and challenges for taxation and its role in supporting the SDGs.

It covers practical aspects of tax policy and administration, as well as encourages an open change of experience and views on how to ensure taxation policy and practices can improve SDG outcomes.