Europe Wants Arbitration to Stay on UN Tax Dispute Tool Menu

European countries pushed Thursday for arbitration to be included in a United Nations tax agreement on dispute resolution, arguing an approach could be taken to overcome concerns from developing countries.

The UK, Germany, Italy, Austria, and Switzerland told a committee responsible for drafting the UN deal that arbitration should remain as an optional and potentially mandatory dispute resolution mechanism in the agreement.

Under arbitration, an independent panel issues a binding decision on a dispute.

Gian Sandri, a Swiss delegate, said arbitration offers many advantages over other approaches, including as a dispute prevention tool that drives compromise.

“Out of thousands of ...