UN Wants to Tackle Illicit Financial Flows In New Tax Framework

The United Nations’ framework for international tax cooperation is likely to initially include tackling illicit financial flows and cross-border services, two key areas of concern for developing countries, a UN official said on Monday.

“The idea is you would try to negotiate the most urgent protocols first… and the ones which are achievable,” Michael Lennard, chief of international tax cooperation and trade in the Financing for Development Office of the UN, told Bloomberg.

Lennard said that an ad-hoc committee will meet in August 2024 to advance the process of developing the framework. He was addressing an international tax conference ...