Combatting Fiscal Fraud: Cameroon Acquires World Experience
An international workshop on
transparency and information exchange is underway in Yaounde.
Taxation stakeholders in Cameroon and from some ten other African
countries are currently learning strategies through which they can
ensure transparency and exchange of information for tax purposes. Target
is arming themselves with what is needed to curb fiscal fraud
detrimental to the country’s socio-economic development.
A four-day international workshop,
code-named, “Global Forum’s Seminar on Transparency and Exchange of
Information For Tax Purposes,” jointly organised by Cameroon’s
Directorate General of Taxation and the Global Forum went underway in
Yaounde yesterday April 7 under the chairmanship of the Minister of
Finance, Alamine Ousmane Mey.
Speaking during the opening ceremony,
Minister Alamine Ousmane Mey said fiscal fraud constitutes a serious
threat to economic development as tax evasion compromises the
mobilisation of needed funds to keep the economy going. Adhering to the
Global Forum in 2012, he said, Cameroon now stands a chance of
benefitting from existing standards on transparency and exchange of
information for tax purposes. The standards make provision for the
existence of mechanisms for exchange of information upon request,
availability of reliable information (in particular bank, ownership,
identity and accounting information) and powers to obtain and provide
such information in response to a specific request in a timely manner.
It also ensures the respect for safeguards and limitations and strict
confidentiality rules for information exchanged. “The fact that Cameroon
is part of this forum is already a strong record given that
globalisation makes provision for countries to develop trade among
themselves worldwide. We want to make sure that what we are doing here
is not only supported by national legislations but by also using
possibilities with support from international organisations to fight
against fiscal fraud and to ensure that revenue collected is really
invested in the development of our economy,” the Minister said.
Like him, the representative of the
Secretariat of Global Forum, Gwenaelle Le Coustumer, lauded Cameroon’s
initiative to adhere to the Forum, stating that the country has a lot to
gain from it.
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