Prime Minister hopesful of UN tax resolution | Bahamas Daily

By Gerrino J. Saunders
Journal Contributor

Earlier this week, British Prime Minister Philip Davis praised
The United Nations recently adopted a resolution calling for the establishment of a
The Intergovernmental Committee is open to all Member States of the United Nations and its Bureau is composed of
Approximately 20 members are elected with consideration for gender and regional balance.
It will then be responsible for developing the terms of reference for the United Nations Framework Convention
Achieve international tax cooperation by August 2024.
“We are committed to maintaining the highest level of tax compliance,” the Prime Minister said.
The standards are unwavering and this historic moment is a testament to our commitment to
Overcome the unfairness caused by the current tax policy framework and system.
“It may be best to decide whether to adopt the resolution proposed by Nigeria
Opportunities in the Bahamas, other IFCs, and developing countries
Countries from
Organisation for Economic Co-operation and Development (OECD) and the European Union
(European Union).”
On the sidelines of the Golden Jubilee Independence Awards ceremony at Baha on Monday
Mar Resort, reporters asked Prime Minister Davis what he thought
The resolution will have an impact on the Bahamas.
He said: “The resolution has been passed, but as you have noticed, most of the major economies
No. The OECD countries don’t support it, but I will write to the UN
In September, the Secretary-General made the case for a more independent
and more inclusive institutions to deal with these tax issues. They clearly accepted
The actions I took, I have written down, I can share this letter with you, but this is my
I have held this responsibility since I took office.”
The Prime Minister went on to explain why he and his government decided to accept
Facing challenges from giants such as the OECD and the EU, and encouraging the United Nations to become an authority
About international tax law.

“These rules were imposed on us without us even being able to discuss them,” he said.
These rules should be understood before implementation because many times
The rules they set and the sanctions that come with them have a big impact on us, sometimes very much.
The costs of implementing the initiatives they want are high.
“They didn’t consider our situation or install these
Initiative and its impact on our economy, without input from SIDS
I am glad that the United Nations listened to me. I started doing this in September 2021.
I talked about this in my first speech to the conference, and now I see it taking root.
Hopefully we’ll see how that plays out, because at the end of the day, some of these countries
It’s themselves.
Prime Minister Davis said he hoped that with 142 countries supporting the resolution,
This ultimately bodes well for the Bahamas and other small island developing States, which often find
Put yourself on the OECD or EU financial blacklist.