Africa and the Global Minimum Tax Debate

Webinar Details

Multinational corporations play a significant role in the political economy of their host nations due to the unique ways in which their large-scale transnational activities drive the marginal benefits of influencing policymaking. In recent times, the idea of discouraging MNCs from shifting profits and tax revenues to low-tax jurisdictions has dominated the global policy debate. As of July 1, 2021, 130 countries have backed a global minimum corporate tax rate of 15%. This has major implications in the Global South, where workforces and raw materials that drive the capitalist mode of production of MNCs often come from. Based on estimates from the United Nations Economic Commission for Africa, Africa loses as much as $50 billion a year through illicit financial flows and leakages to developed countries. Such leakages are a major drag in the context of resource mobilization to finance Africa’s development priorities. Where do we go from here? This webinar will unpack this. Date and further details will be provided soon.