Implications for financial institutions and IFFs as UN votes to assume responsibility for global tax rulemaking from OECD
The United Nations (UN) General Assembly has adopted a resolution that mandates the UN to assume responsibility for rulemaking on global tax.
For sixty years the lead role for global tax rulemaking has been taken by the OECD, and the UN resolution may yet trigger a power struggle between the two organisations, with implications for global and local economies, businesses and financial institutions concerned with illicit financial flows (IFFs) for many years.
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