A new study conducted by a network of NGOs, including the Global Tax Justice Alliance, revealed that Tax evasion costs Africa more than $25 billion a year. As African countries are grappling with the Covid-19 pandemic, tax evasion is considered “unacceptable”, as it reduces revenues that could be spent on citizens’ health. The country most affected by this phenomenon of tax evasion is Nigeria, followed by South Africa, Egypt, and Angola. The Global Alliance for Fiscal Justice estimates that in Africa, on average, fiscal justice accounts for half of national health budgets. According to the Global Tax Justice Alliance report, countries throughout the world lose $427 billion in revenue annually from wealthy individuals and corporations abusing tax laws.

Source: The North Africa Journal November 25, 2020 10:18 UTC