Monday August 6, 2001
Tax, Budget & Accounting
UN Proposals Would Harm Economy, Group Says
Principles endorsed in a United Nations report released June 25 will harm the global economy and undermine competitive advantage of the United States, a report released Aug. 2 by the Center for
Freedom and Prosperity Foundation said.
The UN report outlined strategies for promoting economic development in both developed and industrialized nations, including trade liberalization, fundamental economic reforms in developing nations,
financing by industrial nations of global development, and an international tax organization to "address many needs that have arisen as globalization has progressively undermined the territorial principle on
which traditional tax codes are based."
"The UN has joined the EU and OECD in an unprecedented, all-out attack on low-tax nations like America, the UK, Switzerland, and the so-called tax havens," Andrew Quinlan, president of the
CFPF, an opponent of the Organization for Economic Development's tax haven initiative, said in a news release. "No matter how you slice it, these new international tax schemes would be detrimental to the United
The CFPF study is available on its Web site at http://www.freedomandprosperity.org/Papers/un-report/un-report.shtml. The UN report is available at http://www.un.org/esa/ffd/a55-1000.pdf.
Copyright © 2001 by The Bureau of National Affairs, Inc., Washington D.C.