Law360 Quotes Peter Barnes on International Tax Policy To Watch In 2023

Law360 Tax Authority

As global policymakers continue to develop an international tax overhaul, it will be up to governments around the world to determine whether and how much of the plan to enact in 2023.

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In November, a United Nations committee adopted a resolution calling for the body to have more responsibility over international tax negotiations, but several OECD country representatives said it could undermine progress on a global tax deal. Governments will begin discussing an international tax cooperation framework at the U.N. after the consensus adoption of the resolution, which was supported by the 54 nations in the African Group.

The U.N.'s steps could be important to monitor, according to Peter Barnes, former senior tax counsel at General Electric Co., who is now of counsel at Caplin & Drysdale. Barnes said the U.N. may be able to gain resources and "have a louder voice in international tax matters."

However, Barnes said, there's a risk that the U.N.'s increased role could hamper the OECD's efforts "to speak comprehensively for all countries."

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