OECD: Tax Policy Reforms 2019
The 2019 edition of Tax Policy Reforms: OECD and Selected Partner Economies examines tax reforms in OECD and some partner countries. This is the fourth edition of the report which puts together comparative information in relation to tax reforms in
See MoreUK: Updated statistics on creative industries tax relief
On 7 August 2019 HMRC published updated statistics on creative industries tax relief. Film tax relief Film tax relief is given at 25% of qualifying production expenditure and is available in the case of British qualifying films that have
See MoreWTO: World Trade Statistical Review 2019
The WTO’s World Trade Statistical Review 2019 was published on 29 July 2019. The publication considers the trends in global trade, with analysis of trade in goods and services and the participation of developing economies in world trade.
See MoreOECD: Input requested for dispute resolution peer reviews
On 15 July 2019 the OECD invited interested parties to submit input in relation to issues around access to the mutual agreement procedure; availability of clear MAP guidance; and timely implementation of the outcomes of the MAP, in a number of
See MoreUK: Summary of responses to consultation on the restriction on offset of capital losses
On 11 July 2019 the UK government published a summary of responses to the consultation on the restriction of carried forward capital losses, which was held between 29 October 2018 and 25 January 2019. Interested parties submitting responses
See MoreUK: Summary of responses to consultation on digital services tax
On 11 July 2019 the UK government published a document summarising the responses to the consultation on the design of the digital services tax (DST). The DST is to be implemented from April 2020. Certain digital business models derive value
See MoreIMF report comments on Germany’s tax policy
On 10 July 2019, the IMF issued a report following the conclusion of the Article IV consultation with Germany. Germany’s real GDP growth has averaged over 2% for some years but slowed to 1.5% in 2018 owing to reduced global demand and
See MoreWorld Bank approves grant to improve domestic revenue mobilization in Liberia
On 16 July 2019 the World Bank approved a grant to its International Development Association (IDA) to improve domestic revenue mobilization systems and strengthen financial control and accountability in public finances. The IDA provides grants and
See MoreOECD and Brazil: Report on project to align transfer pricing rules with OECD standards
On 7 July 2019 the OECD and Brazil’s tax administration (RFB) published a report on the results of the work programme launched in February 2018 to analyse Brazil's transfer pricing framework and the similarities and divergences between the
See MoreUK: OTS proposes changes to Inheritance Tax
Following a review of Inheritance Tax the UK’s Office of Tax Simplification (OTS) has proposed that the seven-year period within which lifetime gifts are potentially liable to the Inheritance Tax should be reduced to five years. Executors of
See MoreUK: Consultation on tax dispute resolution
On 2 July 2019 the UK government published for consultation draft Regulations to implement EU Council Directive 2017/1852 on tax dispute resolution mechanisms. Under the draft Regulations a stronger system of dispute resolution would be introduced
See MoreWTO issues 2019 annual report
On 4 June 2019 the World Trade Organisation (WTO) published its annual report covering developments in 2018 and early 2019. The period was characterised by growing trade tension and economic uncertainty. A deceleration in economic activity led
See MoreG20 Finance Ministers issue final communique
The communique issued following the meeting of G20 Finance Ministers and Central Bank governors on 8 and 9 June 2019 covered a number of financial issues of international concern including international tax developments. The Finance Ministers noted
See MoreOECD: Report to the G20 Finance Ministers on International Tax
On 10 June 2019 the OECD published its report on international tax to the G20 Finance Ministers and Central Bank Governors. The report set out progress made on international tax issues. Taxation of the Digital Economy In January 2019 the
See MoreOECD: Work plan on taxation of digital economy
The OECD reported on 31 May 2019 that a program of work has been agreed for work to reach agreement on the tax challenges arising from the digitalisation of the economy. A document has been issued outlining a plan for continuing discussion around
See MoreUN: Draft MAP Chapter for Handbook on Dispute Avoidance and Resolution
On 3 April 2019 an updated draft was released of the chapter on the mutual agreement procedure for the proposed UN Handbook on Dispute Avoidance and Resolution. The draft chapter will be put forward for discussion and approval at the meeting of the
See MoreUN: Draft Chapters for Handbook on Carbon Taxation
On 3 April 2019 the UN Subcommittee on Environmental Tax Issues released two draft chapters that when finalised are intended to form part of a handbook on carbon taxation. The chapters are to be considered by the UN Committee of Experts on
See MoreOECD: Taxing Wages 2019
On 11 April 2019 the OECD released Taxing Wages 2019 analysing developments relating to taxation and social security contributions for workers across the OECD countries in 2018. The general conclusion of the report is that there was a slight
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