IMF Report Recommends Further Tax Measures for Luxembourg
On 15 March 2021 IMF staff issued a concluding statement following discussions under Article IV of the IMF’s articles of agreement. Luxembourg’s economy has come through the pandemic well so far, owing to effective policy measures and
See MoreWTO: Discussion on MSMEs and Green Technology
At the meeting of the Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS) on 10 and 11 March 2021, members discussed among other topics the use of IP by small businesses in relation to innovations in green technology. The
See MoreIMF Recommends Tax Measures and Structural Reforms in Chile
On 9 March 2021 IMF staff issued a concluding statement following discussions with Chile under Chile has issued wide policy responses to the pandemic and its macroeconomic policies and institutions remain strong. The economy is recovering from
See MoreIMF: Analysis of Fiscal Measures to Reduce US Emissions
An IMF blog of 10 March 2021 entitled A New Vision for the US Climate Agenda looks at fiscal actions that would help curb emissions. The US climate plan aims for US carbon neutrality by 2050, achieved by public funding for clean energy
See MorePlatform for Collaboration on Tax: Toolkit on Tax Treaty Negotiations
The Platform for Collaboration on Tax (PCT) was set up by the IMF, OECD, UN and World Bank Group. The PCT has been developing a series of toolkits to guide developing countries in the implementing policy options. The PCT's Toolkit on Tax Treaty
See MoreOECD: Report to the Meeting of G20 Finance Ministers
The OECD has published on its website the report prepared for the meeting of G20 Finance Ministers and Central Bank Governors held on 27 February 2021. Taxation of the Digital Economy Unless an international consensus solution is found for
See MoreOECD: Tackling the Professional Enablers of Tax Crime
On 25 February 2021 the OECD published a document entitled “Ending the Shell Game: Cracking down on the Professionals who enable Tax and White Collar Crimes”. The report was prepared by the OECD Task Force on Tax Crimes and Other Crimes based
See MoreOECD Tax Talk Reviews Recent Developments
The OECD Tax Talk on 4 March 2021 provided updates on important areas of OECD tax work. Taxation of the Digital Economy Countries have recognised the need to further simplify the proposals in Pillar One of the taxation of the digital economy
See MoreUK: Call for Evidence on Employee Management Incentives
Employee management incentives (EMIs) were introduced in the UK to provide small and medium enterprises (SMEs) with an additional way to remunerate their employees. This can be of benefit to small, innovative companies that need to recruit the
See MoreUK: Consultation on Research and Development Tax Reliefs
Following the announcement in the UK Budget on 3 March 2021 of a consultation on the research and development (R&D) tax relief the UK government has issued a consultation document. The UK currently offers two main tax reliefs to companies
See MoreUK Budget Announcements for 2021
On 3 March 2021 the Chancellor announced the UK budget provisions for 2021. The furlough scheme, which pays 80% of employees' wages, will be extended until the end of September 2021, but employers will be asked to contribute 10% in July and 20%
See MoreOECD: BEPS Action 5 Peer Review Transparency Framework
On 22 February 2021 the OECD issued a report outlining the details of the new peer review framework for the peer reviews under Action 5 of the OECD/G20 action plan on base erosion and profit shifting (BEPS). Action 5 relates to action to combat
See MoreOECD: Global Forum Capacity Building Report 2021
On 17 February the Global Forum on Transparency and Exchange of Information for Tax Purposes issued its capacity building report for 2021 entitled Developing Capacities in Times of COVID-19. The report outlines the support activities engaged in
See MoreOECD: ICAP Handbook Released
On 18 February 2021 the OECD issued the International Compliance Assurance Programme Handbook for Tax Administrations and MNE groups. The International Compliance Assurance Programme (ICAP) was set up as a voluntary risk assessment and assurance
See MoreOECD: Final Batch of Stage 1 Peer Review Reports on Dispute Resolution
On 16 February 2021 the OECD issued the final batch of stage 1 peer review assessments in relation to BEPS Action 14 on making dispute resolution mechanisms more effective. Countries that are members of the OECD’s Inclusive Framework on BEPS
See MoreOECD: Enterprise Risk Management Maturity Model
On 9 February 2021 the OECD made available on its website a copy of the Enterprise Risk Management Maturity Model. Maturity models are a tool allowing tax administrations to reach an understanding of their levels of capability in certain
See MoreIMF Country Focus on Nigeria
On 8 February the IMF published a country focus analysing Nigeria’s economy, based on the findings of consultations with Nigeria in relation to Article IV of the IMF’s articles of association. Nigeria is expected to have only a weak and
See MoreIMF: Economic Outlook in Sweden
On 2 February 2021 the IMF issued a report following discussions with Sweden in relation to article IV of the IMF’s articles of agreement. Sweden has been hit hard by the pandemic but has introduced effective support measures for individuals
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