UN Releases Draft Framework to Boost Global Tax Cooperation and Combat Tax Evasion

• The UN has released a draft framework for an international tax cooperation convention, aiming for more effective and inclusive global tax collaboration from 2025 to 2027.
• The draft includes provisions for fair allocation of taxing rights, ensuring all jurisdictions where business activities occur can tax related income.
• Measures are proposed to prevent tax avoidance and evasion by high-net worth individuals, including expanded information exchange and coordinated approaches.
• The framework calls for mutual administrative assistance among states, including broad information sharing to enforce domestic tax laws.
• It emphasizes cooperation to combat illicit financial flows, tax avoidance, and harmful tax practices through international tools, transparency, and information sharing.

Source: regfollower.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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