US ‘rejects very nature’ of UN tax talks

The US has pulled out of discussions at the United Nations over a new global tax treaty – with the US delegation walking out of the meeting on the first day of the procedural session – and encouraged other member states to oppose any outcome from the talks.

The US delegate made the following statement: ‘The United States takes this opportunity to state firmly and clearly that the goals of a future UN framework convention on international tax cooperation are inconsistent with US priorities and represent unwelcome overreach. We do not plan to participate further in this organisational session process or negotiating the United Nations framework convention on international tax cooperation text. We reject the very nature of these discussions. The process that has been adopted will lead to a convention that would unacceptably hamper nations’ ability to enact tax policies that serve the interests of their citizens businesses and...