OECD: Tax Administration Capacity Building in Relation to the Mining Sector in Latin America
On 15 March 2022 the OECD published a blog post on its website commenting on the importance of capacity building to enable tax administrations to collect a fair amount of tax and royalties from mining activities. The post highlighted the
See MoreOECD: Request for Public Input on the Implementation Framework for the Global Minimum Tax
On 14 March 2022 the OECD issued a request for public input on the implementation framework for the global minimum tax under Pillar Two of the OECD/G20 two-pillar international tax proposals. This follows the release of the Commentary on the global
See MoreOECD: Taxation of Part Time Work
On 14 March 2022 the OECD published on their website a working paper entitled Taxation of Part-time Work in the OECD. The working paper sets out a summary, with detailed data, of the taxation of part-time work in OECD countries, including
See MoreIMF Report Considers the Economic Situation in Luxembourg
On 11 March 2022 the IMF published a report following discussions with Luxembourg under Article IV of the IMF’s articles of agreement. The report notes that Luxembourg’s economy has recovered quickly from a relatively mild contraction in
See MoreOECD: VAT Digital Toolkit for Asia-Pacific
On 10 March 2022 the OECD published the VAT Digital Toolkit for Asia-Pacific. The Toolkit, which was produced by the OECD in partnership with the World Bank Group, aims to guide Asia-Pacific tax administrations on implementing reforms for
See MoreEU: Joint European Action for Affordable and Sustainable Energy
On 8 March 2022 the European Commission issued a communication entitled REPowerEU: Joint European Action for more affordable, secure and sustainable energy. This document notes that the current geopolitical situation requires independence from
See MoreIMF Report Looks at the Economy of Hong Kong SAR
On 8 March 2022, the IMF published a report following discussions with the Hong Kong Special Administrative Region (SAR) of China, under Article IV of the IMF’s articles of agreement. The economy of Hong Kong SAR has undergone a strong
See MoreUK: Finance Act 2022 receives Royal Assent
On 25 February 2022 the UK Finance Act 2022 received the Royal Assent. The Act includes a number of further measures to combat promoters of tax avoidance schemes. HMRC powers HMRC is being given the power to present a winding-up petition to
See MoreWorld Bank: Economic Update on Papua New Guinea Recommends Tax Changes
On 4 March 2022 the World Bank published an economic update on Papua New Guinea recommending changes in tax policy and administration to improve revenue collection. The report notes that tax collection has been in decline, and this has been made
See MoreHong Kong announces 2022/23 Budget
The Hong Kong budget announcements for 2022/23 were delivered on 23 February 2022. BEPS 2.0 proposals Hong Kong will bring in a legislative proposal in the second half of 2022 to enact the requirements of the OECD/G20 agreement in relation to
See MoreOECD: Creation of New Co-Chair of the Inclusive Framework
On 1 March 2022 the OECD announced that the OECD/G20 Inclusive Framework on BEPS has elected Marlene Nembhard-Parker of Tax Administration Jamaica to a new position of Co-chair of the organisation. Ms. Nembhard-Parker will chair the group jointly
See MoreIMF: New Database on Special Purpose Entities
On 2 March 2022 the IMF announced the release of a new database on special purpose entities (SPEs) showing cross-border flows and positions of SPEs and based on an internationally agreed definition of SPEs. The release of the database follows
See MoreSingapore to Consult on a Top-up Corporate Tax
In the Singapore budget for 2022, delivered on 18 February 2022, the Finance Minister announced that Singapore will consider introducing a “top-up” tax as part of the adjustments to its corporate tax in response to the OECD/G20 two-pillar
See MoreOECD: Updates to Transfer Pricing Country Profiles
On 28 February 2022 the OECD released updated transfer pricing country profiles for 22 countries, together with new transfer pricing profiles for six more countries. This is the third batch of updates for 2021/22. The OECD transfer pricing
See MoreOECD: Building an Investment Tax Incentives Database
On 24 February 2022 the OECD published a working paper entitled Building an Investment Tax Incentives Database. Countries use tax incentives to attract investment, but if tax incentives are poorly designed, they may be of limited effectiveness.
See MoreWorld Bank: Building Trust When Designing Tax Reform
On 17 February 2022 the World Bank issued a publication entitled Innovations in Tax Compliance: Building Trust, Navigating Politics and Tailoring Reform, by Roel Dom, Anna Custers, Stephen Davenport and Wilson Prichard. The analysis looks at
See MoreOECD announces that Chile has joined the ICAP
On 24 February 2022 the OECD announced that Chile has joined the International Compliance Assurance Program (ICAP). The ICAP is a voluntary risk assessment and assurance program whose objective is to facilitate greater cooperation in tax
See MoreOECD: Consultation on Tax Base Determinations under Pillar One
On 18 February 2022 the OECD launched a public consultation in relation to tax base determinations for Amount A of Pillar 1 of the two-pillar international tax initiative. This is a continuation of the work by the Inclusive Framework in relation to
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