15/10/2026
As the meets in Bangkok, the revenue governments need is hiding in plain sight.
G20 Finance Ministers and Central Bank Governors meet in Bangkok, worried about rising inflation as the conflict in the Middle East keeps oil prices high. Meanwhile, fiscal space is shrinking just as governments face the costs of energy, climate change and calls to rearm.
Today ICRICT, co-chaired by Joseph Stiglitz and Jayati Ghosh, calls on all countries to take their seat when negotiations on the United Nations Framework Convention on International Tax Cooperation ( ) resume in Nairobi on 30 November.
Our statement sets out four priorities:
1️⃣ Taxing multinationals (Art. 5): the world has changed. Physical presence is no longer a prerequisite for economic activity, and the rules must reflect it.
2️⃣ Zero taxation, not double taxation: the real problem is profits shifted to low-tax jurisdictions. What should be negotiated is a formula to allocate them.
3️⃣ Taxing the super-rich (Art. 6): a binding commitment to implement coordinated approaches, including minimum taxes.
4️⃣ Existing treaties (Art. 21): more than 5,000 bilateral treaties, built under a clear imbalance of power, should be brought into line with the Convention.
“The international debate is about double taxation. But the real problem is zero taxation. Tech giants don’t need a physical presence to be very present in a country, and rules written fifty years ago let them pay nothing where they make their money. I would rather see a weak agreement with strong principles than a strong agreement built on the wrong foundations — because the wrong foundations, once laid, are very hard to tear up" - Joseph Stiglitz ICRICT Co-Chair.
“Too many governments are not negotiating on behalf of their citizens but on behalf of the multinationals, the tax havens and the elites.” — Jayati Ghosh ICRICT Co-Chair
📄 Read the statement:https://www.icrict.com/wp-content/uploads/2026/10/icrict_un-statement_a4_v04.pdf
