Statement from Prime Minister Davis on Upholding Fair Global Tax Practices: The Bahamas’ Advocacy and the UN’s Progressive Step

Nassau, The Bahamas — The Bahamas supported the United Nations Resolution on the Promotion of Inclusive and Effective International Tax Cooperation at the United Nations.  We recognize the approval of this 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 OECD – a small club of rich countries– to the UN.

The United Nations’ decision to endorse a more inclusive tax governance framework marks a profound advancement for global economic and tax policy—a cause The Bahamas 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.  Enclosed is the communication from the Prime Minister to the UN Secretary-General.

Our 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 honours the sovereignty of nations like The Bahamas, which have been disproportionately affected by the Global North’s biased policies.

The Bahamas is fully prepared to engage with the UN 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.