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Africa can raise $469bln annual revenue without raising statutory tax rates - AfDB

Africa can unlock more than 469 billion dollars in additional annual revenue without raising statutory tax rates, the African Development Bank (AfDB) has declared. Professor Kevin Urama, Chief Economist/Vice President for the Economic Governance and Knowledge Management, African Development Bank (AfDB), said this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja. He said the additional revenue could be mobilised without increasing tax rates, stressing that stronger domestic resource mobilisation remained the most sustainable source of development financing for the continent. [...]