Executive Chairman FIRS, Muhammad Nami(2nd from right) at the 2023 ECOSOC Special Meeting on International Cooperation in Tax Matters at the United Nations Headquarters, New York, United States.
Nigeria has again called on the United Nations and the international tax community to forge an inclusive, equitable, fair and universally beneficial tax system.
The Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami, who represented Nigeria at the Economic and Social Council (ECOSOC) Special Meeting on International Cooperation in Tax Matters, said this would help in attaining the 2030 Sustainable Development Goals (SDGs).
Nami was speaking on Friday at the ECOSOC Chamber in the United Nations Headquarters in New York.
The Nigerian delegation, Nami said, was concerned about the global minimum tax as put forward by the Organisation for Economic Cooperation and Development (OECD) – Inclusive Framework.
“My delegation is concerned about the global minimum tax, because of its low rate and the way it was negotiated to benefit the home countries of multinationals, which are mostly in developed countries,” Nami said.
The FIRS Chairman urged the meeting to discuss how a UN instrument on tax cooperation could both build on the work that has already been done in a way that guarantees fairness and equity.
He also said Nigeria was looking forward to views on enforcement mechanisms for a binding multilateral tax convention, noting the challenges that developing and developed countries face.
In the country’s statement, Nami pointed out that the capacity of countries to attain the 2030 Sustainable Development Goals hinged on having the requisite funding to deliver critical public services towards these SDGs.
While calling for a global taxation regime under the United Nations, the FIRS boss harped on the importance of enhancing domestic resource mobilisation among member States to address their economic challenges.
“The promotion of inclusive International Tax Cooperation remains a critical subject in the attainment of the 2030 Sustainable Development Goals (SDGs).
“Today a global taxation regime under the UN is urgently needed to enable States effectively mobilize domestic revenues to address the multiple economic and other crises impacting our efforts in the achievement of the 2030 SDGs.
“Domestic public resource mobilisation is critical to this effort, because of its vital role in delivering critical public services and advancing even progress towards the sustainable development agenda.
“Developing countries are taking seriously the challenge of financing sustainable development. My delegation underscores the importance of enhancing domestic resource mobilization, good governance and investment in our common African goal embodied in the Agenda 2063, and in the global goals spelled out in the 2030 Agenda,” Nami stated.
He commended African countries for strengthening their participation in international tax cooperation efforts, as well as the strides they have made “in closing loopholes and countering base erosion and profit shifting.”
Nami however expressed concern that “while much good work has been done, much more remains to be made towards a fully inclusive process, both domestically and internationally, to ensure that all taxpayers were making their fair contributions.
The United Nations Economic and Social Council (UN ECOSOC) Special Meeting on International Cooperation in Tax Matters is an annual meeting of ECOSOC members, senior representatives of national tax authorities, relevant international organisations, civil society and academia that discusses issues of taxation as it affects the globe.
During the meeting, participants delivered action-oriented exchanges and designed best-practices on international tax issues.
This year’s meeting provided a forum for member states, members of the UN Tax Committee, international organisations and other stakeholders to discuss the promotion of inclusive and effective international tax cooperation at the United Nations.
