Taxation

ICC comments on zero draft terms of reference for UN Tax Framework Convention

  • 12 July 2024

Commenting on the UN zero draft terms of reference (ToR) for a UN Framework Convention on International Tax Cooperation, ICC has emphasised the importance of clear, inclusive, and stable tax regimes to promote economic growth and sustainable development.

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The comments will inform the discussions about the UN zero draft ToR for a UN Framework Convention on International Tax Cooperation during the second substantive session of negotiations. 

The UN zero draft ToR published in June 2024 sets out the basic parameters and mechanisms of a framework convention, including its proposed objectives, timeframe for negotiations and priority areas to be addressed. 

Which concerns on the UN zero draft ToR did ICC raise on behalf of business?  

  • Lack of clarity in the proposed terms and of definitions of key concepts 
  • Need for consensus-based decision-making: This entails buy-in from the broadest number of countries and the involvement of the business community in the dialogue 
  • Need for a structured framework for exchange with the business community 

 Additionally, ICC stresses 

  • The significance of tax certainty, simplicity, and the avoidance of double taxation 
  • The need for careful consideration of the economic impact of any of the future proposed policies 
  • The importance of collaboration among international institutions to avoid duplication and ensure workable solutions 

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