Latest news with #OmarAlieuTOURAY
Zawya
29-03-2025
- Business
- Zawya
Economic Community of West African States (ECOWAS) Strengthens Capacity of Member States for Effective Implementation of Regional Tax Reforms
In line with its mandate to support Member States in strengthening their capacity to implement regional tax policies and administration, the ECOWAS Commission , through the Directorate of Customs Union and Taxation, has organized a four-day workshop on 'Enhancing Capacity for Effective Implementation of the ECOWAS Adopted Methodology on Tax Expenditure' to bolster effective implementation of tax administration reforms in West Africa. Held from March 24–27, 2025, the workshop, organised in collaboration with the World Bank, brought together representatives from the Ministries of Finance and Tax Administrations of Anglophone Member States to foster collaboration and knowledge-sharing for improved tax policy formulation and implementation in the overarching objectives of the workshop were to equip Member States with the technical knowledge and tools needed for the effective implementation of the ECOWAS-adopted methodology on tax expenditure; enhance the capacity of tax officers in preparing and reporting tax expenditures in accordance with established guidelines; assess each country's fiscal, legal, and regulatory frameworks in administering tax incentives and tax expenditures through country presentations. Declaring the Workshop open on behalf of the President of the ECOWAS Commission, H.E. Dr. Omar Alieu TOURAY, the Resident Representative of ECOWAS in Sierra Leone, H.E. Ambassador Harouna MOUSSA noted that the workshop would strengthen the collaboration between ECOWAS and Member States and ensure that policies regarding the implementation of ECOWAS-adopted methodology on tax expenditure are aligned with international standards and regional economic goals. ' Tax expenditures, if not properly assessed and managed, can significantly impact government revenues and economic development. The four-day workshop on 'Enhancing Capacity for Effective Implementation of the ECOWAS Adopted Methodology on Tax Expenditure'' has provided a valuable platform for participants to deepen their understanding of best practices in tax expenditure management and to engage in constructive discussions in tax incentive administration across the region. ' Ambassador MOUSSA said. In his welcome remarks on behalf of the Government of Sierra Leone, the Director of Tax Revenue and Tax Policy at Sierra Leone's Ministry of Finance, Mr. Idrissa KANU underscored the importance of harmonising tax reforms and policies within the ECOWAS sub-region and expressed the appreciation of the Government of Sierra Leone to the ECOWAS Commission for its commitment to tax reforms aimed at harmonizing estimation methods and strengthening tax expenditure governance in West Africa. Mr. Kanu said, 'We particularly appreciate that the ECOWAS is committed to tax reforms geared towards harmonising the estimation methods and better governance of tax expenditures. These are very vital for not only facilitating data-driven decision-making, transparency and accountability but also fostering in an intelligible way, the grant of tax exemptions and incentives all of which enhance domestic tax revenue mobilization significantly' In his speech, the World Bank Senior Economist, Alastair THOMAS, underscored the commitment of ECOWAS and its Member States to adopting the Directive of 2023 on Tax Expenditure and reaffirmed the commitment of the World Bank to collaborate with ECOWAS and Member States in addressing the challenges associated with the implementation of the reforms on ECOWAS- Adopted Methodology on Tax Expenditure. THOMAS said, 'The World Bank is absolutely delighted to collaborate with ECOWAS in enhancing the capacity of its Member States towards the effective implementation of the ECOWAS-adopted methodology on tax expenditure. The World Bank also acknowledges ECOWAS' unwavering commitment to tax expenditure reforms in West African States. Tax expenditure reform is very crucial for broadening the tax base and increasing tax revenues in the most efficient and equitable manner.' Through expert-led sessions, peer learning, and interactive discussions, the four-day workshop on 'Enhancing Capacity for Effective Implementation of the ECOWAS Adopted Methodology on Tax Expenditure' has significantly enhanced effective collaboration and knowledge-sharing among ECOWAS Member States, and this will ultimately contribute to improved tax policy formulation, administration and implementation within the ECOWAS region. Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).
Zawya
17-03-2025
- Business
- Zawya
His Excellency (H.E.) Dr. Omar Alieu Touray Calls for The Preservation of the Economic Community of West African States (ECOWAS) Unity During His Meeting with The Heads of Delegation and Mission of The European Union in West Africa
The President of the ECOWAS Commission, H.E. Dr Omar Alieu TOURAY, has emphasised the need to preserve the unity of ECOWAS at all costs. Addressing the Head of European Union Delegation to ECOWAS and Heads of the EU Mission to West Africa during a meeting at the Commission's Headquarters in Abuja, Nigeria, on Thursday, H.E. Dr. Omar Alieu TOURAY stressed that the challenges facing the Community could only be addressed through effective and mutually beneficial collaboration. Dr. TOURAY also underscored the need to strengthen the ECOWAS – European Union Cooperation, and to continue to work together to address the challenges facing ECOWAS region through equitable and mutually beneficial partnership. He said, 'I am happy that we have this opportunity to exchange information and to hear from the EU on matters relating to our cooperation, as well as matters of concern and common interest. This particular meeting is for us to exchange views on the situation in the subregion and how best we can collaborate to address some of the challenges The unity of ECOWAS must be preserved at all costs . This because disunity or disintegration threatens us in more than one way.' 'Disunity threatens our security and the security problems facing us as a Community requires our collaboration for us to be able to overcome them. Disunity threatens governance in our countries as well. If we remain divided, we would not be able to address some of the governance challenges we are facing. This is why our leaders are putting a lot of emphasis on our unity. As our partner, we need EU's support and partnership, and the support must be based on our unity.' Dr. TOURAY expressed ECOWAS' gratitude to the European Union for being a historic and strategic partner. He also commended the EU for its continued and multiple support not only at the regional level but also at the level of individual Member States. ' The various initiatives and programs such as the 10th and 11th European Development Fund (EDF) and the Neighbourhood Development and International Cooperation Instruments (NDICI) have enabled the EU to provide significant support to ECOWAS and ECOWAS Member States in their search for development. ECOWAS appreciates the envelop of 11.6billion Euros for West Africa, and the six priority areas of cooperation.' He added. In his remarks, the Head of the European Union Delegation to Nigeria and ECOWAS, Ambassador Gautier MIGNOT, stressed the importance of ECOWAS as strategic partner and reaffirmed the EU's commitment to strengthening collaboration with ECOWAS to deepen the regional integration process in West Africa. Ambassador Gautier MIGNOT said, 'We are glad to have this meeting with ECOWAS. The EU sees itself as the leading example of the benefits of regional integration. The EU is committed to support ECOWAS working together to promote democracy, good governance, human rights, the rule of law, peace, security and regional integration in West Africa. We are committed to our cooperation with ECOWAS and its Member States in the spirit of equal partnership. ECOWAS has a crucial role in providing sustainable solutions to the political, security, economic, humanitarian and environmental challenges the region is facing.' The European Union's partnership with ECOWAS has remained very strong over the years and this was reflected in the signatory in October 2023 of a package of financing agreements worth over 210 million Euros contributing to ECOWAS programs and activities which aligns with the objectives of the EU Global Gateway Investment Strategy. Already, eleven simplified financial agreements to support ECOWAS have been concluded. The agreements cover areas such as trade, migration, energy, agriculture, peace, security and governance, digital economy and capacity building. The total amount for the support is 370 million Euros and specific projects under this support include the Africa Trade Competitiveness and Market Access; Trade in Services in Sub Saharan Africa and Support Program for Specialized ECOWAS Organizations, among others. Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).
