For immediate release: Nov 15, 2023
OTTAWA -- Canada is among several rich nations that are preventing progress to make the global tax system fairer by blocking a vote to adopt a UN tax convention.
“We’re calling on Canada to stop holding back progress on international tax cooperation. A UN tax convention is desperately needed to reform global tax rules with a more inclusive and effective method than what we’ve seen through the OECD’s BEPS process,” said Katrina Miller, executive director of Canadians for Tax Fairness.
Canada is standing with other rich nations that are preventing a UN tax convention to tackle issues such as multinational corporate tax avoidance and illicit financial flows. Negotiations are underway between UN Member States and a decision is expected by Nov 22.
Currently, one-third of the world’s nations are left out when global tax rules are shaped. A UN convention would create a global tax governance structure where all countries can participate on an equal footing. A UN led approach would also improve transparency and public participation.
“Every year, countries lose $480 billion to global tax abuse. It’s clear the status quo and a decade of OECD-led discussions are not working. Canada likes to think of itself as a progressive country, but we’re blocking a much-needed leadership change in the rewriting of global tax rules that currently benefit the richest and largest countries,” Miller said.
A Financial Times article this week revealed negotiators from developing countries reported that the EU and the UK were actively trying to prevent UN tax cooperation.
Political leaders and renowned economists have added their support for a UN tax convention, including former South African President Thabo Mbeki, former Colombian Finance Minister José Antonio Ocampo, and Nobel-prize winning economist Joseph Stiglitz.
Erika Beauchesne, Communications Coordinator
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Note: A press conference is being held today at UN headquarters at 11:00 a.m. EST about the ongoing UN tax negotiations. Journalists can join the livestream here.