The #UNtaxconvention negotiations may be the most important global economic process happening right now. At a recent @IDEAs webinar, our co-chair Jayati Ghosh broke down what's actually at stake in the ongoing negotiations around the UN Framework Convention on International Tax Cooperation — and why this moment matters. Two protocols are on the table alongside the broader Convention: 1. Taxation of digital services: The most ambitious proposal builds on the concept of “unitary taxation” of multinationals — meaning that every country could tax corporations based on their actual share of global profits, not where they choose to book them to pay less tax or no tax at all. A white paper already outlines this path. Unsurprisingly, it's facing resistance from developed economies. But the idea is on the table, and that alone is significant. 2. Dispute settlement reform: Currently, many international disputes are handled through investor–state dispute settlement (ISDS) mechanisms — systems that have repeatedly ruled against Global South nations in favor of large corporations. The proposed protocol aims to establish clearer, fairer rules that would supersede the most harmful provisions embedded in bilateral investment treaties and comprehensive economic partnership agreements. The broader picture? Rich countries at the @UN are still obstructing more progressive outcomes. This is not new. But what ‘is’ new is the pace of change — the process itself is shifting rapidly. As Jayati put it: "There is still more possibility for progressive outcomes here than in almost any other international negotiation taking place right now." Listen her talk: #TaxJustice #IDEAs #JayatiGhosh #TaxThePower