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Give us access to information on tax havens and tax avoiders, African leaders tell David Cameron
ahead of G8 Summit
African leaders will warn David Cameron on Monday that his plans for a global crackdown on tax
avoidance may be of little value to the world's poorest countries.
A high-level group chaired by Thabo Mbeki, the former South African President, has found that
African countries are losing $50bn a year in illicit financial flows - much of it into tax havens, and
more than the annual aid they receive.
The panel will unveil its findings in Zambia on Monday as Mr Cameron urges G8 leaders to
agree joint action on tax avoidance as they start a two-day summit at Lough Erne near Enniskillen in
Northern Ireland. The African group will
propose three measures on the G8's agenda - a global system of tax information-sharing; identifying
the real "beneficial owners" of bank accounts, often concealed behind phantom "shell companies", and for
multinationals to publicly report their business operations and tax payments in each country where they operate.
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