Rich nations reject inclusive tax rules body

Poor countries on Wednesday failed in their push to have a say on the rules of taxation of international business in a summit held in Addis Ababa.

Instead, developed nations like the US and UK had the final say on the composition of the Organisation of Economic Cooperation and Development (OECD) - which develops guidelines for cross-border trade. The final outcome rejects the proposal of establishing an intergovernmental UN body on tax matters, and instead introduces some minor changes to the existing UN expert committee.