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World Bank, IMF vows to help improve tax systems in developing countries

Xinhua, July 13, 2015 Adjust font size:

The World Bank and the International Monetary Fund (IMF) have announced to launch an initiative to help developing countries strengthen their tax systems ahead of the Financing for Development conference due to be held in Ethiopia.

The two bodies vowed to deepen the dialogue with developing countries on international tax issues with an aim to help increase their weight and voice in the international debate on tax rules and cooperation, according to a recent joint press release carried by both of their official websites.

The two international financial institutions also plan to develop diagnostic tools to help member countries evaluate and strengthen their tax policies.

The announcement came ahead of the Financing for Development conference, also known as the Third International Conference on Financing for Development, to be held in the Ethiopian capital of Addis Ababa.

At the global gathering scheduled for Monday-Thursday, heads of state and multilateral institutions and representatives from private sector will discuss how to scale up financial strength to meet the Sustainable Development Goals.

Chinese Finance Minister Lou Jiwei will attend the international event as representative of Chinese President Xi Jinping. Endi