EU ministers face a race against time to decide on whether to work with a new UN authority on international tax policy, that many believe could superceed the work done by the Paris-based Organisation for Economic Co-operation and Development — most of whose members are EU states.
The EU and the UK were blindsided by a vote to establish a UN tax convention, tabled by Nigeria on behalf of the Africa Group at the UN, which was passed by 125 votes to 48.
The bloc's finance ministers...
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