NASSAU, BAHAMAS- In a keynote address at the STEP LATAM conference in Buenos Aires, Argentina, Attorney-General and Minister of Legal Affairs Ryan Pinder made a compelling case for reforming the development and enforcement of international tax rules.
STEP is a professional organization representing over 21,000 attorneys, accountants, and trust and estate practitioners across 95 jurisdictions. For decades, the Organisation for Economic Co-operation and Development (OECD) has played a dominant role in shaping international tax policies.
Attorney-General Pinder argued that the OECD’s policies and enforcement strategies have disproportionately favored wealthy, developed economies that make up its membership. He pointed out that developing nations are often excluded from critical decisions, calling the process “flawed, inequitable, and unfair.”
He emphasized that the OECD has “consistently ignored the consequences of its agenda for non-members excluded from essential phases of policy design.” Working alongside colleagues from the Global South, Attorney-General Pinder successfully advocated for United Nations Resolution 78/230, passed in December last year.
This resolution acknowledges that the UN can better support inclusive and effective tax cooperation and has established a member-state-led intergovernmental committee to draft an international tax convention. Pinder, who has represented CARICOM and The Bahamas at the UN on this matter, believes the self-serving and unjust enforcement of OECD rules—particularly concerning blacklisting—has hindered growth and progress in countries like The Bahamas. He called for revitalizing multilateralism in tax policy, insisting that nations like The Bahamas must be “represented, resourced, and empowered.” Pinder highlighted the strong support among member states for creating a new international tax framework under UN auspices, with 110 countries voting in favor of the December 2023 resolution.
Pinder stressed the importance of global tax policies reflecting the unique needs of small island states like The Bahamas. As the country moves forward in establishing a more inclusive paradigm, Pinder affirmed The Bahamas’ commitment to actively participating in negotiations to ensure its national interests are represented in the global tax architecture. “We are moving towards a new era,” he said, “in which tax cooperation and the enforcement of tax rules will be more even-handed, just, inclusive, and effective.”
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