Today at the UN Headquarters in New York, the fourth session of the negotiation of a new UN Framework Convention on International Tax Cooperation came to a close.

For the past two weeks, delegates from around the world have been discussing the content of the new Convention, which is set to be finalised by mid-2027, together with two early protocols. The Terms of Reference specify that the new treaty will cover key elements such as equitable taxation to multinational corporations and effective taxation of the world richest, as well as ensuring that tax policies are directly linked to sustainable development. The negotiations also include the question of which countries should be allowed to tax what income – known as allocation of taxing rights.

Tove Maria Ryding, Tax Coordinator at the European Network on Debt and Development (Eurodad), attended the negotiations and said:

“We are moving forward, and that is very encouraging. The UN Tax Convention has the potential to become a trillion-dollar treaty that can crack down on tax havens and boost public financing for development and environmental protection around the world. This is also a historic opportunity to reduce inequalities – both within and between countries. We simply cannot afford to miss it.”

Commenting on the role of the different countries and groups, Ryding said:

“However, the level of ambition is still being carried by developing countries, and in particular the Africa Group, which came to the table with clear and ambitious proposals. Meanwhile, the Europeans are failing to seize the opportunities the UN treaty offers, and mainly seem focused on stripping the document of content. This is extremely unhelpful and also illogical. The failures of the international tax system have strong impacts on Europe too – including the fact that the world’s wealthiest individuals and multinational corporations are not paying their share of taxes.”

In terms of what needs to happen going forward, Ryding said:

“Tax havens exist in all regions of the world, but they make up a small minority. We are calling for all the countries that are losing out – in both the Global North and South – to team up and start plugging the loopholes in the international tax system and ensure it is fair and effective.

“We are also calling for a new mechanism to introduce a polluter pays tax on the fossil fuel industry and boost financing for climate action. These are issues which many European countries ought to be able to support, but right now they are failing. However, there is still time for the Europeans to do their homework and come back to the table with ambitious and progressive proposals.”

The negotiations include all UN Member States except the United States, which left the table a year ago – in February 2025. On this issue, Ryding said:

“It is honestly refreshing to see international negotiations that are not being dominated by the United States. We believe this can result in a more ambitious outcome, and as long as American companies still want to do business in other countries, they will have to follow the rules of those countries – whether they like it or not. In a time when the US is being even more uncooperative than usual, this process provides hope that the rest of the world can stand their ground and insist on a fair and effective international tax system.”

ENDS

To request an interview with Tove Maria Ryding please contact: Julia Ravenscroft, Communications Manager, Eurodad: [email protected]/ +44 7958184695.

Notes to editors

• More information about the recent session can be found on the UN website here.
• The Terms of Reference for a new UN Framework Convention on International Tax Cooperation and two early protocols can be found here.
• The latest draft negotiating text for the UN Tax Convention was published on 22 January and can be found here.
• The next negotiating session will take place at the UN Headquarters in New York from 3-13 August 2026. The deadline for finalising the Convention is mid-2027.