There is an existing global instrument to help prevent the £2tn annually lost to governments. The UN should focus on making it work
Tax evasion is a major cause of underdevelopment. Against the backdrop of Greece struggling to plug budgetary holes, aggravated by rampant tax evasion, the upcoming UN financing for development conference to support achievement of the sustainable development goals (SDGs) is giving increased attention to cultivating domestic resources to promote development.
Rather than adopting new initiatives to bolster tax bases and reduce evasion, UN members ought to focus on making existing tools work better. Among the most powerful instruments available is the anodyne-sounding convention on mutual administrative assistance in tax matters, which was developed under the OECD and Council of Europe, but is open to all jurisdictions.
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