-5.2 C
New York

Africa scores global taxation win at the UN

Published:

African countries scored a historic win for international tax reform this week, paving the way for the United Nations to start seizing power from rich nations on an issue that has long frustrated developing nations.

With tax authorities around the world collecting little to nothing on trillions of dollars in multinational corporate profits, the UN’s Africa bloc, led by Nigeria on 22 November, pushed a resolution calling for a new UN tax convention. Developing countries carried the day in a lopsided vote, with 125 nations voting in favour – including China and Russia along with 51 of the 54 UN’s African member states (Mauritius, Somalia and São Tomé and Príncipe did not vote).

There’s more to this story

Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.



Subscribe Now

cancel anytime

Related articles

Recent articles