The impact of COVID-19 on African countries resulted in unprecedented fiscal demands for governments already subjected to increased health, socio-political and economic risks.
The challenges of balancing economic recovery with effective revenue collection efforts leads to increased scrutiny of taxpayers in highly regulated industries e.g. oil and gas, mining, alcoholic beverages and tobacco.
Mounting fiscal pressures give rise to audits by revenue authorities, primarily focussing on false customs declarations, under-valuation of goods, incorrect treatment of royalties and licence fees, tariff classification and the utilisation of import and export permits by third parties.