Nigeria and the African Group have urged the international community to establish an equitable and inclusive global tax system to support the achievement of the Sustainable Development Goals (SDGs). This call was made at a press conference held in New York on the sidelines of the United Nations General Assembly.
The African Group’s proposal for a new Framework Convention on International Tax Cooperation represents a significant step towards achieving this goal. The proposed convention would create a more equitable platform for dialogue and decision-making on international tax matters, ensuring that all countries have a seat at the table, regardless of their size or economic power.
The African Group believes that a more equitable tax system would unlock greater potential for spending in critical sectors such as healthcare and education, which are essential for Africa’s development. The increased revenue generated would also enable countries to allocate resources where they are most needed, supporting sustainable growth and development.
The proposed Framework Convention is also seen as a way to reduce the strain on international aid. By generating more revenue domestically, African countries would become less reliant on Overseas Development Assistance (ODA). This would foster a more self-reliant and resilient world economy.
The African Group is calling on its partners in the OECD, the EU, the US, and the UK to support their call for an inclusive global tax system. They believe that this is a vital step towards achieving the SDGs and creating a more just and equitable world.