Financial Transparency Coalition

JOINT CIVIL SOCIETY RELEASE ECONOMIC JUSTICE NETWORK – FINANCIAL TRANSPARENCY COALITION – TAX JUSTICE NETWORK – AFRICA

The Deputy President of South Africa, Cyril Ramaphosa, has issued some strong words against individuals and corporations funneling money out of the country to avoid taxes. Speaking at the National Council on Provinces, Ramaphosa called on citizens to report cases of tax evasion.

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.

WASHINGTON DC – South Africa announced today that it has joined the Partnership Panel of the Task Force on Financial Integrity and Economic Development. Partnership Panel members also include the governments of Chile, Denmark, France, Germany, Greece, India, the Netherlands, Norway and Spain, the Canadian International Development Agency, and the Ford Foundation.