UN General Assembly Resolution on Tax Convention

Based on a draft resolution submitted by Nigeria on behalf of the African Group, the recent United Nations (UN) General Assembly resolution on the UN tax treaty aims to bolster global tax cooperation, particularly focusing on curbing tax evasion, profit shifting, and illicit financial flows. The resolution underscores the need for international collaboration to address tax challenges, urging countries to adopt fair tax systems and support developing nations in building their tax capacity. Emphasizing the significance of inclusive discussions, the resolution paves the way for the ongoing negotiation of a UN tax instrument, seeking to establish comprehensive, equitable, and universally applicable tax rules to foster economic stability and sustainable development worldwide.