Member states of the United Nations have approved the final draft terms of reference for a framework convention on international tax cooperation. 110 member states voted in favour, eight voted against and 44 abstained.
The General Assembly will vote on the terms in September 2024. If approved, an intergovernmental negotiating committee will develop the framework convention with the aim of finalising it and two key protocols by September 2027.
A UN spokesperson said: ‘A UN tax convention represents a major shift in how international taxation is approached, with the potential to significantly impact the architecture of global financial systems and how tax dollars are used for the public good.’
Member states of the United Nations have approved the final draft terms of reference for a framework convention on international tax cooperation. 110 member states voted in favour, eight voted against and 44 abstained.
The General Assembly will vote on the terms in September 2024. If approved, an intergovernmental negotiating committee will develop the framework convention with the aim of finalising it and two key protocols by September 2027.
A UN spokesperson said: ‘A UN tax convention represents a major shift in how international taxation is approached, with the potential to significantly impact the architecture of global financial systems and how tax dollars are used for the public good.’
