Financial Crime World

Congo Joins Global Fight Against Tax Evasion: New Member of the Global Forum in Africa

Republic of Congo welcomed as the 165th Member of the Global Forum

  • The Republic of the Congo (Congo) has joined the Global Forum on Transparency and Exchange of Information for Tax Purposes, making it the 165th member and the 34th African country to be part of the international organization.
  • This announcement was made during the 11th Africa Initiative meeting held in Nairobi, Kenya from 14 to 16 June 2022.

Global Forum: Combating Tax Evasion and Strengthening Tax Transparency

  • The Global Forum consists of all G20 countries, OECD members, international financial centers, and numerous developing countries.
  • Congo’s admission into the Global Forum signifies a strong commitment from the international community to combat tax evasion and strengthen tax transparency.

Quote from Maria José Garde, Chair of the Global Forum:

We welcome Congo as our newest member of the Global Forum. The continuous enlargement of the Forum underlines the significance of tax transparency to the international community and the determination of governments to work together in preventing and eradicating tax evasion.

Congo’s Commitment to Fight Offshore Tax Evasion

  • Congo has pledged to fight offshore tax evasion by implementing the internationally recognized exchange of information on request (EOIR) and automatic exchange of information (AEOI) standards.

Collaboration with the Africa Initiative

  • Congo aims to collaborate with the Africa Initiative, a program launched in 2014 designed to bolster domestic revenue mobilization and combat illicit financial flows in Africa through improved tax transparency and exchange of information.

Achievements of the Africa Initiative

  • The recent Tax Transparency in Africa 2022 progress report revealed significant achievements by the Africa Initiative, including its various work streams centered on financial intelligence units, e-learning for tax officials, and the development of a tax information network.

The Role of the Global Forum

  • The Global Forum is the leading multilateral body mandated to ensure jurisdictions uphold and effectively implement the exchange of information on request and automatic exchange of information standards.
  • The organization leverages a rigorous monitoring and peer review process and maintains an extensive capacity-building program to assist its members in adhering to the agreed standards and optimizing cross-border information exchange channels.