NASSAU, Bahamas, CMC – The Bahamas government has reiterated its support for a United Nations resolution promoting inclusive and effective international tax cooperation. It is prepared to assist the global body in establishing “a fair, transparent, and balanced international tax regime.”
Prime Minister Phillip Davis, in a statement, said Nassau regards the resolution as “historic, promoting equity in global tax administration and seeking to establish a framework convention on tax which could ultimately move decision-making on global tax rules from the Organisation for Economic Cooperation and Development (OECD), a small club of rich countries, to the UN.”
Davis said the United Nations’ decision to endorse a more inclusive tax governance framework marks a profound advancement for global economic and tax policy, “a cause,” which he said his country “has long championed.
“This development closely reflects our comprehensive report to the UN Secretary-General, advocating for a fair tax system that embraces the diverse fiscal landscapes of all nations and particularly supports the economic realities of developing countries,” Davis said.
In his letter to UN Secretary-General Antonio Guterres, Prime Minister Davis said that Nassau’s commitment to maintaining the highest tax compliance standards is unwavering, “and this historic moment is a testament to our dedication to overcoming the inequities propagated by current tax policy frameworks and institutions.
“We have consistently emphasized the need for a reformed global tax structure that honors the sovereignty of nations like The Bahamas, which have been disproportionately affected by the Global North’s biased policies.”
Davis said the Bahamas is fully prepared to engage with the United Nations to shape a tax system that ensures transparency, justice, and sustainable development.
“We pledge to lead and advocate tirelessly for policies that protect the economic interests of all countries, with a focus on those historically sidelined in global tax negotiations. The Bahamas will draw on our experiences to support a fair, transparent, and balanced international tax regime,” he added.
In September, Prime Minister Davis, addressing the two-day summit of the Group of 77 and China in Cuba, said that the United Nations is the appropriate body to design and build a truly equitable and inclusive international tax administration architecture with equal footed representation, an environment of one country, one vote.
“For too long, we have all lived in an environment where global tax policy was mandated and designed by the OECD where concepts underpinning the current international tax system prefer the interests of the global north, that is, OECD members and developed countries, at the expense of small developing countries, primarily black governed former colonies in the Global South, former colonies of those same members of the OECD.”
Davis said that the arbitrary and discriminatory actions of the OECD and European Union have disproportionately affected countries of the global south, already reeling from actions and impacts of countries from the global north.
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