A resolution by African countries to rewrite global financial rules and fight tax havens has been sent to the UN (with the EU and US saying no).

The United Nations voted by an overwhelming majority of 125 to 48 and 9 in favor of a resolution tabled by African countries calling for the creation of a framework on global taxation to rewrite existing rules and make them inclusive. and effective”. The goal is to fight tax havens and abuses by the super-rich and multinational corporations. […]

legislative Assembly United Nations Voted with a large majority 125 in favour48 against and 9 abstentions, one Resolution Promoted by African countries, it calls for the creation of a Framework Convention on Global Taxation Rewrite the current rules And make them “inclusive and effective”. The goal is to fight the tax havens and abuses of the super rich and multinational corporations. A breakthrough anticipated by the Nobel Prize-winning economist Joseph StiglitzCo-ChairmanIndependent Commission on International Corporate Taxation ReformAccording to this, 140 countries have negotiated a new global tax framework at headquarters OECD And what was agreed two years ago at the G7 and G20 levels was futile unfair Because it will bring very little benefits to poor and developing countries.

Italy, like other countries, voted againstEuropeWhere 15% minimum tax for multinational companies Strongly weakened by exclusions and loopholes inserted during the race. They are also against it America, The OECD has not ratified the agreement, and United Kingdom. there China Voted in favour.

“This is a historic win for countries in the Global South for the benefit of people around the world,” commented CEO Alex Cobham. Tax Justice Network. “Tax havens and corporate lobbyists have long exerted too much influence on the OECD’s global tax policy. Today we begin to take back power over global tax rules that affect everyone. According to L‘African Union “The decades-long struggle of countries in the Global South to establish a fully inclusive process at the United Nations to participate in agenda-setting and rule-making on international taxation is now a reality.”

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This is the moment in history when the world decided that a new global tax system was needed, that it was possible, and that they were going to work for it.
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— Icrict (@icrict) November 22, 2023