UN: Meetings of the Tax Committee
The 24th session of the UN Committee of Experts on International Cooperation in Taxation was held in virtual meetings from 4 to 7 April and 11 to 12 April 2022. Workplans were presented by the various Subcommittees for approval by the
See MoreBrazil and OECD present outline of new transfer pricing rules
On 12 April 2022 an event was held to present the outline of the new transfer pricing rules drafted by Brazil following a consultation process with the OECD. After Brazil had expressed the intention to become a full OECD member, Brazil and the
See MoreUK: Summary of Responses to Consultation on Corporate Re-domiciliation
On 12 April 2022 the UK government published a summary of the responses to the consultation on corporate re-domiciliation. The UK aims to introduce a regime to enable companies to move their domicile to, and relocated to, the UK.
See MoreOECD: Strengthening Transfer Pricing Capacity in Mongolia
On 8 April 2022 the OECD published a tax and development case study entitled Tackling Multinational Tax Avoidance in Mongolia. In 2019 the OECD and the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF)
See MoreIMF Report Looks at the Economic Situation in Switzerland
On 6 April 2022 the IMF issued a report following discussions with Switzerland under Article IV of the IMF’s articles of agreement. The Swiss economy recovered in 2021 following the crisis caused by the pandemic, with growth reaching 3.7% and
See MoreEU: Pressure on member states to revise CBI/RBI schemes
Recently there has been increased pressure on European Union (EU) member states to scale back their schemes offering citizenship or residence in return for financial contributions. This reflects heightened security concerns in view of the current
See MoreIMF: Untapped Revenue Potential of Personal Income Tax
An IMF blog post of 24 March 2022 considers the potential for developing countries to raise more revenue from the personal income tax. This issue has gained importance as low-income countries look for a sustainable recovery after the pandemic and
See MoreIMF Report Looks at the Economic Situation in Greece
On 31 March 2022 the IMF published a report following discussions with Greece under Article IV of the IMF’s articles of agreement. The economy has recovered strongly from the recession in 2020 caused by the pandemic; and output recovered to
See MoreUK: Spring Statement 2022
The UK’s Spring Statement 2022 was delivered on 23 March 2022. National insurance contributions From July 2022 the annual National Insurance Primary Threshold for Class 1
See MoreIMF issues Report on the Economy of Cyprus
On 29 March 2022 the IMF published a report on the economic situation of Cyprus, following discussions under Article IV of the IMF’s articles of agreement. Cyprus is vulnerable to the economic consequences of the geopolitical tensions and the
See MoreOECD: IT Format for Exchanging Information on Online Sellers
On 29 March 2022 the OECD published a specialized IT format for use by digital platforms when submitting tax information in respect of the vendors that use their platform. The purpose of the format is to increase the ability of digital platforms to
See MoreWTO: Trade Review of UAE
From 22 to 24 March 2022 the World Trade Organisation (WTO) conducted a review of the trade policies and practices of the United Arab Emirates (UAE). As a basis for the review, a report was prepared by the WTO Secretariat. The UAE’s economy
See MoreOECD: Strengthening African Tax Administrations to Increase Revenue from Mining
On 23 March 2022 a blog post by the training unit of the OECD, the African Tax Administration Forum (ATAF) and the Intergovernmental Forum on Mining, Minerals, Metals, and Sustainable Development (IGF) considered how to strengthen the role of the
See MoreOECD: Public Consultation on Tax Transparency Framework for Crypto-Assets
On 22 March 2022 the OECD published a consultation document in relation to a global tax transparency framework for reporting crypto-assets and proposed changes to the common reporting framework for automatic exchange of financial account
See MoreOECD: Fourth Peer Review Report on Prevention of Tax Treaty Abuse
On 21 March 2022 the OECD released the fourth peer review report on tax treaty abuse under Action 6 of the action plan on base erosion and profit shifting (BEPS). The report looks at the measures that member countries of the OECD’s
See MoreIMF: Report Considers Israel’s Economic Situation
On 21 March 2022 the IMF published a report on Israel following discussions under Article IV of the IMF’s articles of agreement. Israel’s economy has withstood the shocks of the crisis caused by the pandemic. Government support was available
See MoreUK: Spring Statement to be announced on 23 March
The Chancellor of the Exchequer will deliver the Spring Statement on 23 March 2022. The Spring Statement is normally a relatively low-key summary of the state of the UK economy; but owing to various adverse economic circumstances the 2022 Spring
See MoreIMF Report on Armenia’s Economic Situation
On 17 March 2022 the IMF published a report following discussions with Armenia in relation to the sixth and final review of the economic program which is supported by a three-year IMF stand-by arrangement (SBA). Armenia is in a stronger economic
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