Rich Countries Warn of OECD Clash During UN Tax Treaty Talks (1)

Rich nations warned Wednesday that a United Nations tax treaty would fragment global tax rules by clashing with the Organization for Economic Cooperation and Development’s two-pillar tax reform.

Representatives of the US, UK, and other large economies told a committee charged with writing draft terms of reference for a UN tax treaty that including the taxation of multinational corporations among the treaty’s high-level commitments would undermine the OECD’s work.

Business groups echoed the views of developed countries, who also criticized the committee’s support for a majority-based decision-making process.

“We are concerned that without consensus decision-making, there won’t be sufficient buy-in,” ...