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A historic victory for global tax justice

A historic victory for global tax justice

November marks the beginning of a historic shift in global taxation towards fairness and inclusion.

On 22 November, at the United Nations, States passed a historic resolution on international taxation. The resolution passed with the support of 77 countries which voted for more and better multilateralism on tax standards at the UN, seeking to end multinationals and the rich abusing the system. 



This resolution, promoted by African states and other emerging countries, aims to create a convention on international tax cooperation. This would open a path to building a fairer and more inclusive international tax system that does not benefit rich countries alone or increase the wealth of the few but provides sufficient resources to developing economies, which are the big losers in the current system. If the negotiations for such a convention go in the right direction, it could lead to higher tax revenue and, thus, more resources to invest in public services and development. The key is to ensure that corporations pay a fair proportion of their income in tax and the revenues are distributed fairly among states.



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