(Ecofin Agency) - Benin achieved a remarkable performance for the latest global tax expenditure transparency index. The country has entered the top 10 most tax-transparent countries globally, securing the 8th position with a score of 66.3/100 and standing as the sole African representative in this category. The country even outperformed powerful countries like the United States and Italy.

This ranking, published on October 9 by the Council on Economic Policies (CEP) in collaboration with the German Institute for Development and Sustainability (IDOS), aims to strengthen transparency and accountability in tax expenditures worldwide. In this year’s edition, South Korea holds the first place, followed by Canada. France, on the other hand, ranks 5th.

GTETI based the ranking on the regularity, quality, and scope of countries’ tax expenditure reports. The only African country in the top 10 scored 11/20 for the public availability of tax reports, 13.3/20 for the institutional framework ensuring transparency and accountability, and 13.2/20 for the quality of information regarding report methodology. Furthermore, it receives a credit of 15.2/20 for the accuracy of information on target companies and 13.6/20 for data on lost tax revenue and their assessments.

The significant reforms initiated by the Minister of Economy and Finance, Romuald Wadagni, since 2016 have been implemented within the country's tax administration, with a strong focus on digitization. According to Benin’s authorities, this breakthrough is "the result of the reforms and the rigor applied in the transparent management of resources by the government."

As a reminder, the GTETI index, which evaluates tax expenditure reports from countries worldwide based on the Global Tax Expenditure Database (GTED), seeks to encourage public debate, promote transparency, and encourage governments to enhance their tax reports.