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INTERSHORES I The UN's Head Calls For A Shake Up of Global Tax Rule And May Establish a Member-State-led Intergovernmental Committee In September 2023

In the UN report issued on 8 August 2023, its Secretary-General calls for more UN involvement in setting and enforcing global tax standards, saying the OECD-led process has currently not “fully inclusive and effective” and has failed to address the needs of developing countries.


The report highlights the challenges posed by illicit financial flows and tax evasion, depriving countries of trillions of dollars in potential revenue and urges the international community to ensure transparency and accountability and to combat these practices.


It also highlights the outsized influence of wealthy countries on the OECD agenda that has led many developing countries, including some OECD members, to question its efficiency in setting equitable global standards.


The report identifies three (3) options for consideration, which would need to be developed and agreed upon through a UN member state-led process:


- A multilateral convention on tax

- A Framework convention on international tax cooperation

- A Framework for international tax cooperation


The report will be addressed in the next session in September 2023, as a possible next step, the establishment of a Member State-led, open-ended ad hoc intergovernmental committee to recommend actions on the options for strengthening the inclusiveness and effectiveness of international tax cooperation so as to combat tax avoidance & evasion and illicit financial flows, which drain much needed resources especially from developing countries; and build more fair, inclusive, and effective tax systems.



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