BEPS is About Industrialized Countries. Part II
“At a global summit that addressed how illicit financial flows interfere with reducing poverty, wealthy nations rejected a plan to expand the UN’s power to fight global tax evasion.
The plan, promoted by developing economies and transparency groups, was the subject of the meeting between delegations of UN members from around the world in Addis Ababa, Ethiopia this week. The goal was to figure out how to pay for the next generation of development goals that the UN will adopt later this year.
Critics also point out that the OECD is run by a select group of wealthy nations. The developing countries want a full seat at the table, akin to recent reforms that rejiggered the membership at the International Monetary Fund (which the US has yet to ratify) or the creation of an Asian Infrastructure Investment Bank (which left the US on the outside, looking in).”
There is little doubt that BEPS won’t be vouching for the interests of developing countries anytime soon…
The complete article is available here at http://qz.com/455059/rich-countries-rejected-an-international-plan-to-let-the-un-help-fight-tax-evasion/
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