G20: How global tax reform could transform Africa's fortunes
When G20 leaders discuss global tax reform at their summit in St Petersburg...[I] urge them to take the sub-Saharan perspective into account...With a young and rapidly growing population, Africa represents not just the world's largest untapped source of oil, gas, and minerals, but also a high potential consumer market...What...[G20 leaders] decide and implement will set the framework for global corporate activity for decades...Properly designed and effectively implemented these global reforms will benefit Africa by making available a fairer share of revenues. Used wisely, the extra tax revenue could generate jobs and opportunities for millions of Africans...reduce poverty, build stable democracies and eventually make development assistance redundant. Companies will also benefit from predictable business environments with clearer regulation. Reputational headaches will be avoided through the transparent management of tax obligations and the accountability that follows.