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African Nations Are Advocating For An All-Encompassing System In The Global Tax

Muammar

IBX-Jakarta. African nations at the United Nations have advocated for a fairer and more inclusive global tax structure. They emphasized the necessity for a new international tax cooperation framework to address historical imbalances in global tax governance. Dr. Chola Milambo, the leader of the African Group at the UN, underscored that this proposal wasn’t merely a policy statement but a beacon of hope for developing nations seeking a say in international tax standards.
Milambo highlighted during a New York press conference that the envisioned convention aimed to promote fairness and inclusivity in the global tax setup. He emphasized the significance of this proposal, noting it as a pivotal step toward a more just and comprehensive global tax system, addressing current shortcomings that often sideline developing nations’ perspectives.
The core objective of the proposed framework was to ensure equal representation for all nations in shaping international tax cooperation agendas, irrespective of their size or economic power. Milambo pointed out that establishing a more equitable tax system would unlock greater potential for essential sectors like healthcare and education, crucial for Africa and the Global South.
Furthermore, he stressed that this initiative aligned with sustainable development goals, aiming to contribute directly to holistic progress and well-being for all. Milambo highlighted the human aspect, emphasizing that reforming the financial systems and ensuring fair taxation could decrease dependence on international aid, fostering a more self-reliant global economy.
However, he appealed for understanding and collaboration from partners like the OECD, EU, US, and UK, emphasizing the convention’s significance beyond fiscal measures. Milambo positioned this proposal as a critical aspect of the 2025 Financing for Development Conference, envisioning a more inclusive approach to global economic challenges and sustainable development.
Additionally, Prof. Bolaji Owasanoye, the outgoing chairman of the ICPC, echoed support for the framework, emphasizing its necessity to rectify tax framework inequalities that prevent developing nations from retaining revenue from multinational corporations. He called upon developed nations to reconsider their resistance, stressing the importance of this convention in achieving sustainable development goals and creating an economically interdependent world.
Owasanoye assured continued leadership from Nigeria in this process due to the country’s significant exposure to illicit financial flows in Africa, particularly in the sub-Saharan region.
Source: https://www.msn.com/en-us/news/world/african-countries-call-for-inclusive-global-tax-system/ar-AA1kc3oz
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