Tax Provisions in the African Continental Free Trade Area Agreement and International Tax Policy Development
Overview
This paper analyzes the tax provisions within the African Continental Free Trade Area (AfCFTA) agreement, which became applicable on May 30, 2019. It examines how the agreement facilitates economic integration among African nations through tariff reduction and elimination while exploring the development of comprehensive international tax policy frameworks for tax treaty negotiations across the continent.
What this coursework covers
- Introduction to African economic integration and the role of the OAU in fostering continental cooperation
- Overview of AfCFTA agreement: ratification status, objectives, and implementation of shared standards
- Highlights of AfCFTA benefits including economy of scale, capital flows, labor market opportunities, and technological innovation
- Importance of considering taxation issues and business community perspectives in ongoing negotiations
Preview
UNIVERSITY OF NAIROBI
SCHOOL OF LAW: MASTER OF LAWS (LL.M)
GPR 610: ADVANCE TAX LAW
REG. NO. G62/35457/2019
COURSE INSTRUCTOR:
PROF ATTIYA WARIS
SUBMITTED ON: FEBRUARY 26, 2020
QUESTION:
Analyse the tax provisions in African Free Trade Area Agreement. Develop Africa’s International Tax Policy on the Negotiation of Tax Treaties.
Analysis of the Tax Provisions in African Continental Free Trade Area Agreement
Introduction
Trade is usually the engine for social, political, and economic development across the African nations for centuries before the establishment of the Africa’s regional body, the Organization of African Unity (OAU) in 1963. The organization has tirelessly worked towards the boosting of cooperation between African nations as well as integration of economic development at the continental level. In his regard, there was subsequent formation of regional economic blocs that were created to consolidate the economic space of certain regions and maximize the advantages from such integration. The were the building blocks for development of an economic community that covered all nations of the world. The integration of the economic communities would boost regional trade (UNCTAD, 2016).
The African Continental Free Trade Area (AfCFTA) agreement was officially applicable on 30th May, 2019. It was ratified by 22 nations and the main purpose of the agreement is to offer reduction or elimination of tariffs on qualifying imports between the member nations. It establishes that all signatories to the agreement are bound by the agreement even though the text of the agreement has never been finalized.