Financial Transparency Coalition

With the BRICS Summit scheduled for 8-9 July, a few days before the Financing for Development (FfD) Conference in Addis Ababa, BRICS countries have a unique opportunity this year to strengthen their cooperation and relevance as a group by committing to working collectively towards an ambitious FfD outcome.

For the first time, the Task Force Regional Representatives delivered specific recommendations to the BRICS governments, which met in South Africa this week. The BRICS countries hold a unique position among developing countries and emerging markets: they suffer from the same persistent problems relating to international taxation, transfer pricing, exchange of information, and tax evasion and avoidance that affect the rest of the developing world, but unlike many developing countries, hold significant power and influence at the international institutions and fora. All five BRICS are members of the G20, and Russia holds the Presidency this year.