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UN Tax Convention Needed to Solve Global Issues, Panel Urges (1)

Feb. 25, 2021, 5:02 AMUpdated: Feb. 25, 2021, 5:28 PM

Several countries urged members of the United Nations to back a coordinated, global effort to crack down on corporate tax abuse and illicit financial flows.

Government officials from Mexico, Pakistan, Nigeria, and Norway voiced support for recommendations from an UN-affiliated panel released Thursday.

The report also called for better tax information sharing between developed and developing countries, and the creation of a global pact to tackle illicit financial flows and tax issues.

The recommendations—if followed—would represent a shift of power in global tax policy-making toward developing countries.

“Let’s use this moment to move towards a financial system built on accountability, ...