Finishing the Job of Global Tax Cooperation
Given the many loopholes and opportunities for tax arbitrage in today's global economy, much closer international cooperation will be needed to ensure that multinational corporations and the world's wealthiest people pay their fair share. Negotiations for this purpose are now underway, but developed countries must get on board.
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BOGOTÁ – This year’s Spring Meetings of the World Bank and the International Monetary Fund, and the follow-up United Nations Forum on Financing for Development, have put international tax cooperation high on the global agenda once again. Brazil has declared that it will use its G20 presidency to advance the issue (whereas last year’s New Delhi G20 summit made no mention of it), and the second phase of UN negotiations toward a global tax convention is now underway.