- The fund is aimed at helping the developing countries to actively participate in the discussion of tax issues via participation UN Tax Committee meetings.
- The UN Tax Committee is a subsidiary body of the UN Economic and Social Council (ESOSOC).
- The UN Tax Committee offers guidance on current issues such as double taxation treaties, transfer pricing, taxation of the extractive industries and taxation of services.
- It also strives to promote international tax cooperation among national tax authorities.
- It also makes recommendations on capacity-building and the provision of technical assistance to developing countries and countries with economies in transition.
Why in news?
India is the first country to make a voluntary contribution to the UN tax fund.
What is Addis Ababa Action Agenda (AAAA)?
- Addis Ababa Action Agenda provides a global framework for effective mobilisation of resources at the national and international level for sustainable development.
- Implementation of this agenda also supports the implementation of the Sustainable Development Goals (SDGs).
- It forms an integral part of the 2030 Agenda for Sustainable Development, which was unanimously adopted in 2015.
- India has made voluntary contribution in UN Tax Fund following AAAA.