The West African Tax Administration Forum (WATAF) held a virtual validation session of its model Compliance Risk Management (CRM) Framework on 27 April, 2021. This Framework was developed as a guide to assist Revenue Authorities of WATAF member countries to optimise their revenue potentials, especially now that the world is faced with the economic consequences posed by the COVID-19 pandemic.
After a detailed presentation by the WATAF Secretariat highlighting different components of the CRM Framework and its benefits, participants agreed that the guidelines should be adopted by member states to handle compliance risk management functions in their various tax administrations.
Major recommendations of the meeting were the formation of the Network of Compliance Risk Managers in West Africa and organisation of a conference on the model CRM Framework with Heads of Tax Administrations and their Heads of Compliance Risk Management Function in attendance.
A timeline has been agreed for further review of the Model CRM Framework to accommodate comments from member countries after which the document will be made available to the public.
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