International Tax Standards Pose Challenges for Africa (1)

International standards to tackle base erosion and profit shifting have benefited Africa but also posed compliance issues, an official said Tuesday.

The pressure on African economies to comply with the tax standards is challenging to deal with when some countries are only able to collect enough tax revenue to fund 30% of their annual budgets, Logan Wort, executive secretary of the African Tax Administration Forum, said at an annual conference in South Africa.

The Organization for Economic Cooperation and Development said Tuesday that Africa’s tax revenues in 2021 remained below pre-pandemic levels in 17 of the 33 countries ...