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DATA has been released by the Organisation for Economic Cooperation & Development (OECD) that shows how African governments collect less tax as a proportion of their countries’ wealth than in Latin America and the Caribbean. Africa’s average 2015 tax-to-GDP ratio was 19.1%; compared to 22.8% in Latin America/Caribbean and 34.3% for the 35 richer countries within the OECD.…

JAPAN’S paint and coatings sector is putting on a positive face and playing up overseas expansion efforts, as well as its traditional strength in innovation, but analysts are concerned about the longer-term outlook for domestic companies.

Sales of paint in Japan came to Japanese Yen JPY 675 billion (USD6.10 billion) in 2016, a marginal increase of around 1% on the previous year’s figure, according to the Japan Paint Manufacturers Association.…

Kenya is likely to become the second country in east Africa after Rwanda to use unmanned aerial vehicles (UAVs), popularly known as drones, for commercial purposes, according to Capt. Gilbert Kibe, director general of the Kenya Civil Aviation Authority (KCAA).

Speaking during a ‘Drones East Africa Conference’ held in Nairobi on June 20-21, Kibe briefed delegates on draft regulations that will open Kenya skies to UAVs: “The policy procedures and regulations for remotely piloted aircraft systems…have been approved and will provide a roadmap to the industry,” Kibe told delegates at the event, organised by the International Quality and Productivity Centre (IQPC).…

THE EVER-intensifying skyline of Nairobi, Kenya’s capital city, illustrates the rapid economic growth of this equatorial East African country, and its growing workforce is increasingly keen to buy deodorants to keep them dry and comfortable in the office and outside.

An increased focus on banking, industry, manufacturing and construction have raised the country’s gross domestic product (GDP) by 5.3% year-on-year in 2014 and 5.6% in 2015 (Deloitte Economic Outlook 2016).…

Demand is growing for a major international programme designed to support developing countries build up their tax audit capacity and – critically – the funding is there to meet that need. Launched as a joint initiative of the Organisation for Economic Co-operation & Development (OECD) and the United Nations Development Programme (UNDP) in July 2015 after an initial pilot phase, Tax Inspectors Without Borders (TIWB) sees tax experts work side-by-side with local officials in developing and emerging markets.…

GOVERNMENTS in east Africa may have been passing legislation and regulation to control the tobacco sector, but these laws’ effectiveness is being weakened by lax implementation.

Kenya has been leading the local pack with controls, in 2007 enacted its first Tobacco Control Act, and in 2014 ratifying the World Health Organization Framework Convention on Tobacco Control (WHO-FCTC).…

WITH the economies of sub-Saharan Africa emerging from past poverty, informality and occasional chaos, the regularisation of the region’s public sector accounts is increasingly viewed as an important way of ensuring growing tax revenues are spent wisely.

As a result, accounting experts have been encouraged by growing moves to adopt International Public Sector Accounting Standards (IPSAS).…

THE EUROPEAN Commission must propose a new blacklist of non-European Union (EU) countries considered high-risk money laundering locations, after the full European Parliament (EP) overwhelmingly a proposed list yesterday (May 17), by 392 votes to 80, with 207 abstentions.

A Parliament spokesperson told Money Laundering Bulletin the Commission had no deadline to produce its third list of countries needing to face stricter controls doing business in the EU, but was expected to do so in the next “few months”.…

The European Parliament’s committee on economic and monetary affairs (ECON) and its committee on civil liberties, justice and home affairs (LIBE) have rejected a proposed blacklist of non-European Union (EU) jurisdictions deemed to be high risk locations for money laundering. In a joint vote on Wednesday (May 3), the committees asked the full European Parliament plenary to confirm their opposition to the list.…

KENYA’S EDUCATION MINISTER CALLS FOR LESS GOVERNMENT MEDDLING IN AFRICAN UNIVERSITY MANAGEMENT

Kenya’s education minister has called for African governments to pull away from direct management of their country’s universities, saying such meddling is unnecessary and can hinder the development of effective management.…