Nigeria has urged Member States to back the proposed resolution for a global Tax Convention aimed at establishing a more equitable taxation system worldwide. This initiative, introduced during the 77th session of the United Nations General Assembly, seeks to promote inclusive and effective international tax cooperation. The convention aims to address tax evasion, illicit financial flows, and promote a fairer taxation system within and beyond national boundaries.
Key Points:
- Nigeria introduced a resolution titled “Promotion of Inclusive and Effective International Tax Cooperation at the United Nations” during the 77th session of the UN General Assembly.
- The resolution sets the foundation for a comprehensive international tax cooperation system with universal reach and approach.
- Member states reached a consensus to establish a convention for tax cooperation and hold annual discussions on global tax issues.
- The proposed convention is seen as an inclusive and transparent avenue for meaningful reform, crucial for achieving UN commitments on Sustainable Development Goals (SDGs).
Analysis: Nigeria’s call for support of the proposed global Tax Convention underscores the importance of international cooperation in creating a fair and effective taxation system. Addressing tax evasion and illicit financial flows is critical for sustainable development and achieving the SDGs. By advocating for this convention, Nigeria seeks to foster a more equitable global financial landscape. The success of such an initiative would mark a significant step toward international economic inclusivity and stability.
