In this insightful discussion on Global Compass, we dive deep into the United Nations’ blueprint for a universal tax accord, focusing on the crucial need for equitable taxation that aligns with the Sustainable Development Goals (SDGs). Our guests, Pallavee Dhaundiyal Panthry, Chief Communication Advisor, World of Circular Economy (WOCE), and Nidhi Raj, Regional Director, APAC, World of Circular Economy (WOCE), both leading voices in the field of circular economy, share their perspectives on how this groundbreaking initiative can reshape the global tax landscape, making it more inclusive and fair for all.
The conversation begins with an exploration of how the current tax system, rooted in imperial practices, disproportionately favors the Global North. The new UN framework seeks to address these imbalances by introducing equitable taxation, particularly targeting multinational corporations. This isn’t just about fairness; it’s about survival and sustainability, especially for the Global South.
Pallavi highlights the importance of redefining growth, emphasizing that developed countries must lead by example, transitioning to sustainable practices without slowing down economic progress. Nidhi brings in the example of Singapore, where low taxes are balanced by incentives for corporations to engage in sustainable practices, proving that equitable taxation is not only possible but also beneficial for all parties involved.
As the discussion progresses, the speakers underscore the importance of collaboration, transparency, and shared goals. They acknowledge the challenges, particularly the resistance from industrialized nations, but remain optimistic that baby steps taken today will lead to significant progress in the near future.
This conversation is a powerful reminder that achieving equity through global tax reform is not just a lofty ideal but a feasible reality—one that we must collectively strive towards for a more sustainable and just world.
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