Business
Africa Records 18 Out Of 30 Failed Countries – Economist
Franszen Riel, a professor of Economics, University of Pretoria, South Africa has said that Africa recorded 18 appearances out of the first 30 failed countries in 2009.
Riel gave the figure at the 12th annual tax conference of the Chartered Institute of Taxation of Nigeria (CITN), on Friday in Abuja.
According to him, African region in the face of the prevailing world statistics and indexes also has 21 countries regarded as conflict zones.
The economist said that 14 African countries also showed up from the bottom on the corruption perception index.
He said that African countries found themselves in these positions due to series of political challenges and lack of tax harmonisation and other trade elements within the region.
Riel identified corruption, political instability, conflict, lack of freedom of information, non-adherence to the rule of law as challenges facing tax harmonisation within the region.
Besides, the economist said that lack of good governance, absence of quality and focused leadership and poor infrastructure, among others were issues the region must pursue to attain greatness.
Riel said government at the national and regional levels must be up and doing in the area of policy making and implementation.
“African leaders must be more committed to the achievement of economic integration through the coordination and harmonisation of taxes and other trade elements”.
“Although the journey may take longer years to achieve, considering the processes involved and the challenges that must be surmounted it has become absolutely necessary that the commitment at the leadership level be heightened”.
“If we must attain the European Union’s style of regional integration, tax coordination and tax harmonisation require serious commitment.
”The journey took the European Union (EU) 41 years to achieve as such more commitment on the part of leadership at various levels must drive this goal,” he said.
Reports say that the conference, which started on Tuesday, May 3 ends on May 7.
About 800 tax professionals and the chairmen of internal revenue service in the 36 states of the federation, including the Federal Capital Territory were are attending the conference.