Nigeria on Wednesday called on member states to endorse the proposed resolution on the Tax Convention that would ensure a fairer taxation system globally.

The permanent mission of Nigeria to the United Nations called for continued support toward a comprehensive UN Tax Convention.

During the 77th session of the United Nations General Assembly (UNGA), Nigeria presented a historic resolution entitled ‘Promotion of Inclusive and Effective International Tax Cooperation at the United Nations’.

The resolution laid the foundation for creating a new system of international tax cooperation that should be universal in scope and approach. With this, member states agreed for the first time to have a convention on tax cooperation, discuss global tax issues, and review progress annually.

The motion, submitted for consideration by Nigeria on behalf of the 54-member African group of states, was adopted by consensus after some discussions on a failed amendment.

“We call on all Member States to endorse this crucial initiative aimed at tackling tax evasion, illicit financial flows, and ensuring a fairer taxation system within and beyond national boundaries. 

“The proposed UN Tax Convention offers an inclusive and transparent avenue for meaningful reform, vital for fulfilling UN commitments on Sustainable Development Goals.

“We reiterate our call for immediate, collective action. The world cannot afford further delays in addressing this urgent issue,” the mission explained.

Tijjani Muhammad-Bande, Nigeria’s permanent representative to the UN, said Nigeria would continue to champion the discussion on tax convention at the ongoing 78th session of the UN General Assembly (UNGA).

“We are just at the beginning of the process now that it has been mandated that something be done. What will happen now is to sit down and see what can be done to ensure that such a convention or treaty is arrived at,” said Mr Muhammad-Bande.

The diplomat added, “That will be a lot of negotiations; countries, blocs, coalitions, but by and large, globally, it is understood that it is important to have a binding document relating to taxation that looks at the interest of all parts of the world at the same time.”

(NAN)