BREAKFAST MEETING ON IMPLICATIONS OF FINANCIAL CRIMES ON POVERTY AND INEQUALITY

BREAKFAST MEETING ON IMPLICATIONS OF FINANCIAL CRIMES ON POVERTY AND INEQUALITY

The Zambia Tax Platform (ZTP) will be hosting a breakfast meeting focusing on the implications of Financial Crimes on Poverty and Inequality in Zambia. ZTP is a multi-stakeholder group that provides critical analysis on Zambia’s tax policy and administration and promotes sustained advocacy on improving public finance management, enhancing fiscal justice and efficiency in the  use of public resources.

ZTP notes that a strong financial system is key for development in any country. Over the years however, financial crimes including those bordering on illicit financial flows and suspected proceeds of crime have continued to be cited in many reports as deterrents of economic prosperity for Zambia. In the last Financial Intelligence Centre (FIC) trends report, it was  revealed that 101 suspicious transition were analyzed and  reported by the centre. There was also a significant increase in the value of suspicious cash withdrawals (from ZMW3 million to ZMW25 million) and deposits (from ZMW103 million to ZMW534 million) from 2018 to 2019 respectively.

Fighting financial crimes is not an easy task especially in light of financial constraints and inadequate skills to tackle the problems. Nonetheless, the observed trends undoubtedly affect everyone and the economy as a whole. There is thus need to continue sensitizing people on the adverse effects that financial crimes bring.

Date

Apr 15 2021
Expired!

Time

8:00 am - 10:00 pm
Category

Organizer

Zambia Tax Platform
Email
info@zambiataxplatform.com
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PRESS STATEMENTZTP Calls for Enhanced Social Security Mechanisms to the Informal SectorLusaka, 24th November 2021: Social Security is the protection that society provides to individuals and households to ensure access to health care and guarantee income security, particularly in cases of old age, unemployment, sickness, invalidity, work injury, maternity, or loss of a breadwinner. According to the International Labour Organization (ILO) Conventions and United Nations (UN) instruments, social security protection is defined as a basic human right. On a global level, however, only 20 percent of the world’s population has adequate social security coverage, while more than half, lacks any kind of social security protection at all. Currently, Zambia’s legal provisions on social security mostly cover the formal economy with mechanisms developed on a “formal employment” model, with predictable monthly earnings, and a stable and clear employment relationship. 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Challenges to extending social security to the informal economy include irregular employment arrangements and income patterns, gaps in the legal framework, affordability to subscribe on the worker's side and cost compliance, and financial constraints on the employers’ side. Furthermore, poor knowledge on social security rights and requirements, weak workers representation due to the absence of workers organizations, and weak enforcement mechanisms. Therefore, the existing social security scheme features and mechanisms in Zambia are not adapted for the extension of coverage to the informally employed workers. In view of the aforementioned, ZTP recommends the development of progressive mechanisms that enhance and extend social security coverage to informal workers. A universal, national, government-led approach to delivering social security to informal economy workers is needed, as opposed to unsystematic, decentralized, and fragmented solutions. 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The fund caters for pension benefits, the survivors’ benefits paid to widows and guardians, and temporal periodic payments are made to individuals as they undergo treatment. The Workers Compensation Act No. 10 of 1999 governs the WCFCB.• Pension and Insurance Authority (PIA) – This is the regulatory and supervisory authority for the pensions and insurance industry in Zambia. It is created by the Pensions Scheme regulation Act No. 28 of 1996 (as amended by Act No. 27 of 2005). Notably, these Statutory Schemes have been in existence over time but by virtue of only targeting the formal sector, makes them regressive.Issued By Ellen Makinishi (Ms)Private Sector Enhancement ExpertTel: +260211264409Phone: +260968015985Email: pse@zambiataxplatform.comWebsite: www.zambiataxplatform.com ...
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World Children’s Day was first established in 1954 as Universal Children's Day and is celebrated on 20 November each year to promote international togetherness, awareness among children worldwide, and improving children's welfare.November 20th is an important date as it is the date in 1959 when the UN General Assembly adopted the Declaration of the Rights of the Child. It is also the date in 1989 when the UN General Assembly adopted the Convention on the Rights of the Child.Since 1990, World Children's Day also marks the anniversary of the date that the UN General Assembly adopted both the Declaration and the Convention on children's rights.Mothers and fathers, teachers, nurses and doctors, government leaders and civil society activists, religious and community elders, corporate moguls and media professionals, as well as young people and children themselves, can play an important part in making World Children's Day relevant for their societies, communities and nations.Scr: www.un.org/en/observances/world-childrens-dayWorld Children's Day offers each of us an inspirational entry-point to advocate, promote and celebrate children's rights, translating into dialogues and actions that will build a better world for children. ...
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ATTENTION: PARENTS, GUARDIANS, TEACHERS (Lusaka and Rufunsa)CALL FOR EXPRESSION OF INTERESTWe are looking for children who can participate in our podcast series to push for sustainable change towards children`s rights.Apply and Download Concept Note: zambiataxplatform.com/ztp-podcast/The ZTP podcast is supported by SAVE THE CHILDREN and the Swedish Development Assistance and implemented by the Zambia Tax Platform (ZTP) and the Centre for Trade Policy and Development (CTPD) ...
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