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Financing for Development

The United Nations has updated a set of guidelines to prevent double taxation between countries, as well as to avoid tax evasion, which costs countries $3.1 trillion every year. The UN Model Double Taxation Convention between Developed and Developing Countries (the UN Model) is used by countries as a basis for negotiation of their bilateral tax treaties.

Double tax treaties are agreements to prevent taxing income twice by allocating taxing rights over this income between two countries. These types of treaties play a key role in encouraging investment and technology transfer, while allowing governments to retain taxing rights over the money that comes from those investments.…