The Organisation for Economic Co-operation and Development (OECD) said that Tax Inspector Without Borders (TIWB), an initiative run in partnership with the United Nations Development Programme has resulted in $260m in additional tax revenues for developing countries since its inception in July 2015.
TIWB organises deployment of qualified tax audit experts to countries in need of assistance with ongoing audits of multinationals. The projects focus on revenue recovery and improving local audit capacity.
Launched in the summer of last year, the eight pilot projects across Africa, Asia and Latin America have secured $260m additional tax revenues including $100m in Zimbabwe, the OECD has said,
Another 13 projects are currently underway in Botswana, Costa Rica, Ethiopia, Georgia, Ghana, Jamaica, Lesotho, Liberia, Malawi, Nigeria, Uganda, Zambia and Zimbabwe.
Additionally the OECD announced that a number of new projects will be launched in the coming year with the aim to deploy over 100 experts by 2020. Countries in line to receive auditors in the coming year are the Republic of Congo, Egypt, Uganda, Cameroon and Vietnam.
Finally the OECD announced the launch of the first South-South co-operation project under the TIWB, with Kenyan auditors planned to be deployed to Botswana in 2017.
"Developing countries face serious challenges in raising domestic resources to fund basic government services, and tax avoidance by multinational enterprises is a complicating factor," James Karanja, head of the TIWB secretariat said. "The Tax Inspectors Without Borders programme is demonstrating how effective capacity building can make a difference toward the goal of ensuring that all companies pay their fair share of tax."