The OECD has issued a release announcing that Algeria has joined the Yaoundé Declaration, a regional initiative for tax transparency.
Algeria becomes 32nd country to sign the Yaoundé Declaration
30/11/2021 - On Tuesday 30 November 2021, Algeria's Prime Minister and Minister of Finance, Mr Aïmene Benabderrahmane, took part in a meeting with the Head of the Secretariat of the Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum), Ms Zayda Manatta. Their virtual meeting follows the recent adhesion of Algeria to the Global Forum. The country has also just added its voice to the Yaoundé Declaration, an important African initiative for transparency and exchange of information for tax purposes.
"Like all other members of the Global Forum, Algeria will participate on an equal footing and is committed to combating tax evasion through the progressive implementation of internationally agreed standards of transparency and exchange of information for tax purposes," said Mr Benabderrahmane.
The Yaoundé Declaration, initially signed by four countries in November 2017, encouraged the African Union to initiate a high-level discussion on tax co-operation and illicit financial flows and their link to domestic resource mobilisation. Four years later, with Algeria's support, 32 African finance ministers and the African Union Commission now support the declaration.
As a member of the Global Forum, Algeria will also participate in the Africa Initiative, a programme of work launched in 2014 to support domestic revenue mobilisation and the fight against illicit financial flows in Africa through enhanced tax transparency and exchange of information.
The Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the exchange of information on request standard and the standard of automatic exchange of information. These objectives are achieved through a robust monitoring and peer review process, which Algeria will be subjected to. The Global Forum also runs an extensive capacity-building programme to support its members in implementing the standards and help tax authorities make the best use of cross-border information sharing channels.