WTO: Trade restrictions increased in 2013
The World Trade Organization (WTO) has reported that growth in world trade in 2013 was slower than expected in the year 2013. Growth in world merchandise trade was 2.5% in 2013 and will probably be 4.5% in 2014. The report mainly looked at G20
See MoreOECD: Comments published on digital economy taxation issues
The OECD has published on its website the comments received following a request made on 22 December 2013 on tax issues arising from the digital economy. Comments have been made from a wide range of accounting and law firms, and also by
See MoreNetherlands: New decree on arm’s length principle published
The Netherlands State Secretary for Finance issued Decree No. IFZ 2013/184M on 26 November 2013 (Official Gazette No. 32854) which relates to the application of the arm’s length principle and the OECD Transfer Pricing Guidelines. The revised
See MoreKazakhstan – International Convention regarding tax issues signed
The Organization for Economic Co-operation and Development (OECD) has announced that Kazakhstan signed the international convention related to mutual administrative assistance in tax matters on December 23, 2013. According to the OECD release,
See MoreGST in Malaysia supported by the IMF
It was reported on 19 December 2013 that the International Monetary Fund’s (IMF) Mission Chief for Malaysia said at the conclusion of discussions for the 2013 Article IV Consultation that he welcomes the country’s decision to introduce a Goods
See MoreHong Kong: Exchange of information for tax purposes
Hong Kong is broadly compliant in its implementation of the international standards of transparency and exchange of information for tax purposes, a review of OECD’s global forum was announced at its meeting in Jakarta on November 2013. However,
See MoreHungary Signs OECD Multilateral Tax Assistance Treaty
Hungary has become the 61st jurisdiction to sign the Organization for Economic Cooperation and Development’s multilateral treaty on multilateral tax assistance. This can be considered as a step of Hungary to its fight against cross-border tax
See MoreOECD publishes paper on tax crime in the fishing sector
A report prepared by the OECD Task Force on Tax Crimes and Other Crimes entitled “Evading the net: tax crime in the fisheries sector” has been published by the OECD. The report points out that the fisheries sector is a very large global industry
See MoreOECD Forum on Tax and Crime
The Third International Forum on Tax and Crime was held in Istanbul on 7 and 8 November 2013. The Forum brought together representatives of tax and customs administration, police, financial regulators and anti-money laundering and anti-corruption
See MoreOECD consults on transfer pricing issues
The OECD held a public discussion on transfer pricing issues in Paris on 12 and 13 November 2013. The participants were representatives of the business world, academic institutions, non-governmental organizations, the media and the public. The
See MoreOECD publishes bribery and corruption awareness handbook for tax examiners
The published a Recommendation on cooperation between tax and other law enforcement bodies to deal with serious crimes in 2010. Under this recommendation countries were expected to ensure that effective legal frameworks were implemented to
See MoreNew Zealand – Supports BEPS Action Plan
The tax department of New Zealand released a report that endorses measures outlined by the Organization for Economic Cooperation and Development (OECD) action plan to deal with the taxation of large multinational corporations and the problems of
See MoreOECD – Request for submissions on PE-status avoidance strategies (BEPS)
The organization for Economic Co-operation and Development (OECD) issued a request on 22 October 2013 for submissions of a “short description of strategies” that might be considered to result in the artificial avoidance of permanent
See MoreNew Zealand Tax Department Backs OECD BEPS Plan
New Zealand's Inland Revenue Department (IRD) has released a report that strongly endorses the measures drawn up by the Organization for Economic Cooperation and Development (OECD) for tackling base erosion and profit shifting. The OECD action plan
See MoreOECD: Welcomes Japanese tax increase
Recently, the Secretary General of the Organization for Economic Cooperation and Development (OECD) has welcomed the announcement by Prime Minister on 7 October 2013 that, the nation will increase its consumption tax from its current 5% levy to 8%
See MoreOECD consults developing countries on base erosion and profit shifting
A meeting of more than 300 tax officials from the tax administrations of more than 100 countries and organizations was hosted by the OECD in Paris on 26 September 2013. The participants in the meeting discussed the ways in which developing
See MoreOECD: Engaging and involving SME taxpayers
The OECD recently published a paper entitled “Together for Better Outcomes” dealing with the issue of how to involve and engage small and medium enterprise (SME) taxpayers and other stakeholders in the tax compliance process. This study was
See MoreWTO, OECD and UNCTAD paper on Global Value Chains presented to G20
A joint report by the WTO, OECD and UNCTAD entitled “Implications of global value chains for trade, investment, development and jobs” dated 6 August 2013 was presented to the G20 meeting of September 2013. The report is a result of research into
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