UN Approves Roadmap for Tax Treaty Talks, 2027 Deadline (1)

The United Nations approved a roadmap Wednesday for negotiations of a global tax treaty despite objections from the US and other wealthy countries.

The UN’s Second Committee passed by a large majority terms of reference for negotiations, with 125 nations in favor, 9 against and 46 abstentions. European Union countries abstained as a group.

The US, EU, and other developed economies have opposed key elements of the terms of reference during their negotiation over the past year, most notably that decisions so far have been made by a majority vote among UN members rather than by consensus.

The EU threatened ...