Nigeria Urges Member States to Endorse UN Tax Convention

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Nigeria Urges Member States to Endorse UN Tax Convention

Nigeria Urges Member States to Endorse UN Tax Convention

Nigeria has called on Member States to endorse the proposed resolution on Tax Convention that would ensure a fairer taxation system globally. The Permanent Mission of Nigeria to the United Nations, in a statement made available to the news agency in New York, called for continued support toward a comprehensive UN Tax Convention.

Recalls that Nigeria had, during the 77th session of the United Nations General Assembly (UNGA), presented a historic resolution entitled “Promotion of Inclusive and Effective International Tax Cooperation at the United Nations’’.

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

The motion, submitted for consideration by Nigeria on behalf of 54-member African Group of States, was adopted by consensus after some discussions on a failed amendment.

“The Africa Group building on the adoption of resolution 77/244 on the “promotion of inclusive and effective international tax cooperation at the United Nations”, has put forth a proposal for a comprehensive UN Tax Convention.

“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 (SDGs)

“We reiterate our call for immediate, collective action. The world cannot afford further delays in addressing this urgent issue,’’ the Mission stated in a statement.

Earlier in an interview with NAN, Amb. Tijjani Muhammad-Bande, Permanent Representative of Nigeria to the UN said Nigeria would continue to champion the discuss on tax convention at the ongoing 78th session of UN General Assembly (UNGA).

Muhammad-Bande said that the resolution was important in the context of financing for development, noting that the element of taxation is connected to illicit flows.

“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.

“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,’’ he said. #Naira Devaluation Deepens Economic Crisis in Nigeria

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