African Legislators have lauded the collaboration between the Pan-African Parliament (PAP) and the African Union Commission on International Law (AUCIL) on the development of the Double Taxation Agreement (DTA), describing it as a perfect example in development of continental solutions.
Members of the Permanent Committee on Monetary and Financial Affairs were briefed by the PAP Legal Officer Mr. Clement MAVUNGU on the DTA and assured of the PAP’s confidence in the groundwork done thus far.
The Committee Chairperson, Hon. James Reat GONY, believes the partnership on taxation issues will bring lasting solutions for the continent.
“AUCIL and PAP partnership is a perfect example of how organs of the Union can collaborate to develop a continental solution. We look forward the tabling of the final document before the Heads of state and government for consideration in the very near future,” Hon. Gony said.
The two organs are expected to discuss the document at length in April 2020, before presenting it to the Standard Technical Committee that deals with legal instruments for finalisation.
As the organ dealing with legal instruments, AUCIL was mandated by the Executive Council of the African Union (AU) to develop a model law agreement on Double Taxation.
The proposed African Model Double Taxation Agreement is meant to help African countries with a consistent and harmonized approach in taxation negotiations, which would promote increased tax certainty and a better investment and trade environment.
The anticipated Double Taxation Agreement Model Law document will be counted among some of the successful initiatives in whose formulation process, the PAP would have made concrete and direct input.
