Managing Director, International Monetary Fund, Ms. Christine Lagarde, has called on countries worldwide to increase their tax compliance drive,
Ms. Largarde who was speaking at the end of a G-8 leaders summit in Lough-Erne, Northern Ireland said that International tax avoidance and evasion have emerged as major risks to government revenue and a threats to the credibility of tax systems worldwide.
"At a time when almost all governments need additional revenues, whether to deal with high post-crisis public debts or to finance critical investments in human development, combating tax evasion and addressing tax avoidance should top the list of potential revenue-raising measures."
According to Ms. Largarde, IMF has been working with its member countries—including those in the G-8—along with the Organization for Economic Cooperation and Development and other international institutions, to promote sound fiscal policies globally.
"Taxation regimes and fiscal transparency figure prominently in our technical assistance and ongoing economic analysis and policy advice, including measures that promote equitable and efficient tax systems as well as stronger tax administration.
A commitment to fair taxes, increased transparency, and open trade will support the broader commitment to maintaining sound macroeconomic policies and restoring stronger growth and job creation.
The IMF stands ready to work closely with its member countries and other multilateral institutions on these important issues and chalenges, she assured.ral institutions on these important issues and
challenges.”
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