Chair for the African Progress Panel and former Secretary-General of the United Nations Kofi Annan, has called on G-8 leaders to expose multinational companies engaging in unethical tax avoidance activities in Africa. In a statement issued by the Africa Progress Panel, the respected international diplomat sought to draw global attention to the practice of anonymous company ownership which is used to deprive African countries of much needed resources in terms of taxes. Reproduced below is the full statement: STATEMENT BY KOFI ANNAN, FORMER UN SECRETARY-GENERAL AND CHAIR OF THE AFRICA PROGRESS PANEL. G8 must tackle tax avoidance and anonymous company ownership “In this time of change, the G8 can make a difference. For example, company ownership – as well as revenue flows – can and must be made completely transparent thereby shining a light on a widespread method for hiding corruption. The G8 must establish registries on ownership of companies and trusts in all tax jurisdictions – and the registries need to be publicly available. Closely linked, tax avoidance and evasion are global issues that affect us all. The impact for G8 governments is a loss of revenue. But in Africa, it has direct impact on the lives of mothers and children.” “Throughout the world, millions of citizens now need the G8 leaders to take action on tax avoidance. Not just because of the palpable injustice of enormous tax avoidance by major multinationals including many headquartered in G8 countries. But also because to do so could save many, many lives around the world. Tax authorities in all regions struggle to prevent the erosion of their tax bases, but Africa struggles more than most. A G8 deal on the automatic exchange of tax information must include African authorities, giving them full access to relevant tax information.” “These demands may seem ambitious. But a shared agenda is emerging. This is critical, as mutually beneficial agreements are the only ones that will stand the test of time. And by the way, it is not just governments who are moving ahead, but several companies too. Given this enormous momentum towards a fairer world, where unethical tax avoidance and corrupt deals become harder to hide, the leaders of G8 can be on the right side of history, swimming ahead of the tide to make the world a safer, fairer place.” The Africa Progress Panel is calling on the G8 to tackle tax avoidance and anonymous company ownership. Secret companies - often incorporated in tax havens, or in the world's key financial centres - are a key means by which corrupt leaders and irresponsible businesses hide the proceeds of their crimes and misdemeanours. The G8 must crack down on the use of secret companies by putting in place public registries of who owns and controls companies and trusts.