In a letter to the United Nations General Assembly, the World Communion of Reformed Churches (WCRC) joined other global Christian organizations in reiterating a call for a New International Financial and Economic Architecture (NIFEA).
“In a world confronting multiple crises – the cost of living crisis, the pushback on democracy, human rights and gender justice, and the climate emergency – the need for financial resources has never been more crucial,” reads the letter. “However, the prevailing profit-driven international financial and tax system systematically diverts resources to the already wealthy and powerful, aggravating inequalities and damaging our increasingly fragile ecosystems.”
“An inevitable part of NIFEA is the fair redistribution of wealth and social protection, as a matter of justice and human rights,” reads the letter. “We welcome and applaud that the United Nations (UN), in this ongoing General Assembly (UNGA), has included an agenda on the promotion of inclusive and effective international cooperation on tax matters.”
The letter calls on the UN to continue to advance the process of delivering a legally binding UN Convention on Tax.
“Such a convention is necessary to effectively combat illicit financial flows and tax evasion and avoidance by multinational corporations (MNCs) and affluent individuals, including through the development of unitary methods of corporate taxation to ensure that MNCs pay taxes where economic activities occur, closing tax havens, and publishing country-by-country reports of profits,” reads the letter.
The letter was signed by the World Council of Churches, World Communion of Reformed Churches, Lutheran World Federation, World Methodist Council, and Council for World Mission, collectively representing over 600 million Christians in 120 countries.
The NIFEA project is funded through contributions from Otto per Mille. The WCRC’s justice work is funded with assistance from the Council for World Mission.
(Article courtesy of the WCC.)
(Image: A woman counts her money in a market in Kamina, in the Democratic Republic of the Congo. Constructed by the United Methodist Committee on Relief (UMCOR), the market provides local residents a healthy environment to sell their products. Photo: Paul Jeffrey/Life on Earth.)