UN Tax Convention Negotiations Set to Shape Global Corporate Tax Rules

Negotiators will reconvene in New York this August for the fifth session of the draft UN Framework Convention on International Tax Cooperation. The meeting will focus on shifting tax‑rule making from the OECD to a more representative UN process, with drafts still leaving Articles 14‑20 blank and pending decisions on the legal effect of future guidance.

Proponents argue the convention could enable a unitary taxation model that taxes multinational profits at the global level, potentially raising $700 billion to $1 trillion in annual revenues. The initiative is driven by the African Union and the G77 of developing countries, who seek to give the Global South a stronger voice in international tax policy after limited reforms in the OECD’s Inclusive Framework.