Unbridgeable divides? Recent developments do not bode well for a successful outcome to the process of reforming the international tax architecture, writes Philip Baker KC OBE (Field Court Tax Chambers).
On Friday 16 August the Ad Hoc Committee (AHC) set up by the UN General Assembly finalised the Terms of Reference (ToR) for a UN Framework Convention on international tax cooperation. Debate in the AHC brought out deep divisions between countries and the final ToR was put to a vote with 110 countries voting for eight countries voting against and 44 countries abstaining. The UK US Australia New Zealand and Canada Israel Japan and Korea voted against. The EU member states plus countries close to the EU all abstained. Using somewhat generalised terminology the Global South voted in favour of the ToR while the Global North voted...
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Unbridgeable divides? Recent developments do not bode well for a successful outcome to the process of reforming the international tax architecture, writes Philip Baker KC OBE (Field Court Tax Chambers).
On Friday 16 August the Ad Hoc Committee (AHC) set up by the UN General Assembly finalised the Terms of Reference (ToR) for a UN Framework Convention on international tax cooperation. Debate in the AHC brought out deep divisions between countries and the final ToR was put to a vote with 110 countries voting for eight countries voting against and 44 countries abstaining. The UK US Australia New Zealand and Canada Israel Japan and Korea voted against. The EU member states plus countries close to the EU all abstained. Using somewhat generalised terminology the Global South voted in favour of the ToR while the Global North voted...
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