Nigeria Urges Member States to Endorse UN Tax Convention

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Nigeria called on member states to approve and support the proposed resolution on the Tax Convention as it will ensure a fairer taxation system globally.

While at the 77th session of the United Nations General Assembly (UNGA), Nigeria presented a historic resolution titled ‘Promotion of Inclusive and Effective International Tax Cooperation at the United Nations’.

The resolution laid the foundation of a new system of international tax cooperation that should be universal both in scope and in approach, and for the first time, member states agreed to have a convention on tax cooperation, discuss global tax issues, and review progress annually.

The motion that Nigeria submitted for consideration on behalf of the 54-member African group of states, was adopted by agreement after some discussions on a failed amendment.

“We call on all Member States to endorse this crucial initiative aimed at tackling tax evasion, illicit financial flows, and ensuring a fairer taxation system within and beyond national boundaries.

“The proposed UN Tax Convention offers an inclusive and transparent avenue for meaningful reform, vital for fulfilling UN commitments on Sustainable Development Goals.

“We reiterate our call for immediate, collective action. The world cannot afford further delays in addressing this urgent issue,” the mission explained.

Nigeria’s permanent representative to the UN, Tijjani Muhammad-Bande, said Nigeria will continue to champion the discussion on tax convention at the ongoing 78th session of the UN General Assembly (UNGA).

“We are just at the beginning of the process now that it has been mandated that something be done. What will happen now is to sit down and see what can be done to ensure that such a convention or treaty is arrived at,” said Mr Muhammad-Bande.

He further added, “That will be a lot of negotiations; countries, blocs, coalitions, but by and large, globally, it is understood that it is important to have a binding document relating to taxation that looks at the interest of all parts of the world at the same time.”

 

 

 

 

 

 

 

 

 

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