Countries at the UN have adopted by a landslide majority a resolution to begin the process of establishing a framework convention on tax and completely change how global tax rules are decided. The framework convention can eventually move decision-making on global tax rules from the OECD – a small club of rich countries where this has sat for over 60 years – to the UN.
https://taxjustice.net/press/un-adopts-plans-for-historic-tax-reform/
Interesting changes ahead - it seems.
Key terms can be accessed here:
https://undocs.org/Home/Mobile?Fina...guage=E&DeviceType=Mobile&LangRequested=False
"3. Decides to establish a Member State-led, open-ended ad hoc intergovernmental committee for the purpose of drafting terms of reference for a United Nations framework convention on international tax cooperation;
4. Also decides that the ad hoc intergovernmental committee shall convene in New York for up to 15 working days at a time, within available time frames, and with the contribution of international organizations and civil society, in accordance with established practice, and shall hold its organizational session as soon as possible with a view to finalizing the work of the committee by August 2024;
5. Further decides that the bureau of the ad hoc intergovernmental committee shall be made up of not more than 20 members, consisting of a chair, vice-chairs and a rapporteur, elected on the basis of balanced geographical representation and taking into account gender balance, with each of the five regional groups equally represented;
6. Requests the ad hoc intergovernmental committee, in elaborating the draft terms of reference for a framework convention: (a) To take into account the needs, priorities and capacities of all countries, in particular developing countries; "
https://taxjustice.net/press/un-adopts-plans-for-historic-tax-reform/
Interesting changes ahead - it seems.
Key terms can be accessed here:
https://undocs.org/Home/Mobile?Fina...guage=E&DeviceType=Mobile&LangRequested=False
"3. Decides to establish a Member State-led, open-ended ad hoc intergovernmental committee for the purpose of drafting terms of reference for a United Nations framework convention on international tax cooperation;
4. Also decides that the ad hoc intergovernmental committee shall convene in New York for up to 15 working days at a time, within available time frames, and with the contribution of international organizations and civil society, in accordance with established practice, and shall hold its organizational session as soon as possible with a view to finalizing the work of the committee by August 2024;
5. Further decides that the bureau of the ad hoc intergovernmental committee shall be made up of not more than 20 members, consisting of a chair, vice-chairs and a rapporteur, elected on the basis of balanced geographical representation and taking into account gender balance, with each of the five regional groups equally represented;
6. Requests the ad hoc intergovernmental committee, in elaborating the draft terms of reference for a framework convention: (a) To take into account the needs, priorities and capacities of all countries, in particular developing countries; "
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