UN Panel to Include Wealth Taxes in Draft Global Treaty Outline (1)

A UN tax committee will include taxes on wealthy individuals in a draft global tax treaty that the full General Assembly will debate later this year.

The panel is meeting in New York until May 8 to write draft terms of reference for the tax treaty. Other topics that could be included in the draft include digital taxation, illicit financial flows, and environmental taxes.

The UN effort is being led by developing countries, who say that an existing global tax deal led by the Organization for Economic Cooperation and Development favors richer countries at their expense. The OECD’s 2021 tax ...