Tax Cooperation and Combatting Illicit Capital Flows: the Commission proposes increasing the agreed global minimum tax rate from 15% to 25%, banning tax incentives for natural resource exploitation, and ensuring adequate taxation of very rich individuals, including through a minimum tax on the very wealthy. To combat illicit financial flows, the Commission proposes mandatory country-by-country reporting by MNEs, a publicly accessible global registry of beneficial ownership, and a UN protocol on illicit flows.
Civil Society Declaration Finance In Common Summit (FiCS) | Fostering Infrastructure And Finance For Just and Sustainable Growth
The confluence of rising inequality, debt crises, and the escalating climate emergency demands that Public Development Banks (PDBs) demonstrate genuine leadership in driving just, sustainable development. At this critical juncture, PDBs must move beyond rhetoric and commit to concrete, transformative actions, placing human rights, community leadership, and environmental sustainability at the core of all financing decisions. Civil Society Organisations (CSOs) call on PDBs to embrace this responsibility and champion a new era of development finance.