EU: Annual Report on Taxation 2021
On 18 May 2021 the European Union (EU) published the Annual Report on Taxation 2021 assessing progress made by EU Member States in aligning their tax policies with the EU’s tax priorities to promote innovation and productivity, encourage
See MoreOECD case study on combating international tax avoidance in Senegal
On 21 May 2021 the OECD published a Tax and Development Case Study entitled “Fighting International Tax Avoidance and Evasion to Finance the Emergence of Senegal”. Senegal aims to be an emerging economy by 2035, and a ten-year development
See MoreOECD: Conference of the Parties to the MLI approves an opinion on interpretation and implementation
On 3 May 2021 an opinion of interpretation and implementation was reached by a conference of the parties to the multilateral instrument (MLI) for inclusion in bilateral tax treaties of the tax treaty related provisions arising from the action plan
See MoreUN amends commentary to model tax treaty on taxation of software payments
At the 22nd session of the UN Committee of Experts on International Cooperation in Tax Matters, held virtually between 19 and 28 April 2021, a decision was made to revise the commentary to Article 12 (royalties) of the UN Model Tax Treaty in
See MoreUN: Third edition of the Practical Manual on Transfer Pricing for Developing Countries
Following approval at the twenty-second session of the UN Committee of Experts on International Cooperation in Tax Matters, held from 19 to 28 April 2021, the UN has published the third edition of its Practical Manual on Transfer Pricing for
See MoreUN: Meeting of Committee of Tax Experts
On 19 to 28 April 2021 the twenty-second session of the UN Committee of Experts on International Cooperation in Tax Matters will be held in a series of virtual meetings. UN Model Treaty – Revised Royalty definition The Committee will
See MoreIMF and World Bank: Discussion of Digital Services Tax
On 13 April 2021 the IMF and World Bank tax conference on Minimum and Digital Taxation: Consensus or Divide discussed aspects of unilateral digital service taxes. The discussions covered the scope of the taxes, tax treaty issues and challenges for
See MoreIMF: Discussion of Tax Aspects of the Fiscal Monitor Reports
On 7 April 2021 the IMF held a press briefing to discuss the latest issue of the IMF Fiscal Monitor. The Fiscal Monitor for April 2021 looks at the actions countries have taken in response to the pandemic and discusses how government policies
See MoreUS Treasury Secretary backs the OECD talks on Global Minimum Tax
On 5 April 2021 the US Treasury Secretary Janet Yellen announced that she is working with the G20 countries to reach an agreement on a global minimum corporate tax rate. This is a reference to US cooperation with the G20/OECD initiative to design a
See MoreOECD: Exchange of Information commences under Global Standard on Substantial Activities
From 31 March 2021 twelve low tax jurisdictions have begun exchanging information under the global standard on substantial activities. The OECD’s Inclusive Framework aims to ensure through application of the global standard that substantial
See MoreOECD: Request for input on proposed changes to commentary on Article 9 of OECD Model
On 29 March 2021 the OECD issued a public discussion draft on proposed changes to the commentary to Article 9 (associated enterprises) of the OECD Model Tax Convention. The amendments are to be included in the next update of the OECD
See MoreOECD: 2020 Peer Review Report on Treaty Shopping
On 1 April 2021 the OECD released the latest annual peer review report on adoption of measures against treaty shopping. The report on Action 6 of the OECD project on base erosion and profit shifting (BEPS) noted that abuse of double tax
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 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 MoreSouth Africa: Finance Ministry presents Budget 2021 in Parliament
On 24 February 2021, the Finance Minister, Tito Mboweni, made 2021 budget speech in the Parliament. Most of that relief will reduce the tax burden on the lower and middle-income households. Some of the tax proposals in this budget are given
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: 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: International Tax Cooperation to Regulate Globalisation
On 1 February 2021 the OECD Secretary General published a blog post entitled A Turning Point for Tax: International co-operation for better regulation of globalisation. The note is based on the speech given by the Secretary General at the opening
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