ITR Winter Issue 2022: Editorial

Much as Christmas seems to roll around faster every year, so does our list of the Global Tax 50, a selection of which appears in the cover story of this PDF. For those lucky enough to feature, you might even say “it’s the most … wonderful tiiimmmeee … of the yeeeaaarrr”.

Jokes aside, the people we profile must have done something truly influential, so their inclusion is genuinely something to celebrate. It’s never an easy task sifting through and agreeing on all the names, but it’s always a team effort and it really gets us thinking.

The full list is split into five categories – tax authorities; industry leaders; NGOs; noteworthy individuals; and public officials – and includes a profile for each entry.

It would be impossible to sum up the tax highlights of 2022, but, if one thing stood out, it would be the recent powerplay from the UN to seize control of global tax responsibility from the OECD.

The Paris-based organisation has long been the supreme intergovernmental body for tax policy, but in November the UN made a bold move that lays the groundwork for a new tax convention. This could even lead to the creation of global tax institutions and cooperation frameworks or instruments.

It comes at a time when progress on pillars one and two, which were agreed by the OECD, appears to have ground to a halt (though, in December, EU member states achieved a historic breakthrough by agreeing to implement the OECD’s global corporate minimum tax rate of 15% across the bloc).

Perhaps that’s exactly why the UN has sought to seize its opportunity now, while the future of the two-pillar solution remains unclear.

Whatever you do in 2023, make sure you’re following developments in this space – we’re going to be in for a fascinating watch.

In the meantime, you can catch up on all the usual expert analysis and local insights in this issue. And of course, we wish you a merry Christmas and a happy new year.

Read the ITR Winter Issue 2022 here