OECD: Podcast on the Global Digital Tax Agreement
On 9 September 2021 the OECD made available a podcast on the global digital tax agreement. The international tax system has become outdated during the past 30 to 40 years owing to the effects of globalisation. Multinational enterprises are more
See MoreUNCTAD report on illicit financial flows
The UNCTAD publication Economic Development in Africa Report 2020: Tackling Illicit Financial Flows for Sustainable Development in Africa was published in July 2021. The UNCTAD report argues that tackling illicit financial flows is an important
See MoreOECD: Corporate Tax Statistics Database Updated
On 29 July 2021 the OECD released the third edition of the Corporate Tax Statistics database. This database aims to broaden the range of data issued on corporate tax to assist in the study of base erosion and profit shifting (BEPS). The updated
See MoreUK: Powers to tackle electronic sales suppression
On 20 July 2021 the UK issued draft legislation and an explanatory note on new powers to deal with tax evasion through the use of electronic sales suppression (ESS). This is aimed at businesses that undertake ESS to hide or reduce the value of
See MoreUK: New proposals to combat the promotion of tax avoidance schemes
On 20 July 2021 the UK government published for consultation new proposals aiming to restrict the activities of promoters of tax avoidance schemes, together with draft legislation. The consultation will close on 14 September 2021. The government
See MoreUK: HMRC investigates the use of business support schemes
It was reported on 28 June 2021 that the UK tax authority HMRC has begun around 13,000 investigations concerning the use of the UK coronavirus business support schemes. The investigations relate to fraud and other breaches of rules. It is
See MoreEU: 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 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: 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 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
See MoreUK: OECD rules on cross-border arrangements to replace DAC 6
On 4 January 2021 HMRC confirmed that the EU rules on mandatory reporting of cross-border tax arrangements involving an EU member state (DAC 6) will mostly cease to apply in the UK from 2021. Under the EU rules set out in DAC 6, cross-border tax
See MoreOECD publishes public comments on proposals on taxation of the digital economy
On 16 December 2020 the OECD published comments received on the Blueprints outlining the remaining issues involved in finalising the work on Pillar One and Pillar Two of the proposals on tax challenges arising from the digitalisation of the
See MoreUK: Research on Enablers and Facilitators of Tax Evasion
On 2 December 2020 HMRC published a research report by IFF Research aiming to reach an improved understanding of the situation of wealth managers, UK goods importers and freight forwarders who may be in a position where they are at risk of
See MoreUK: Changes to the Research and Development Tax Credit for SMEs
On 12 November 2020 the UK government published draft legislation aiming to prevent the abuse of research and development (R&D) tax relief by small and medium companies (SMEs). This follows extensive consultation on the issue. The SME
See MoreOECD: Economic Impact of Pillar One and Pillar Two
At a presentation on 12 October 2020 introducing Blueprint reports on Pillar 1 and Pillar 2 of the proposals on taxation of the digital economy, the OECD presented an economic impact analysis of the proposals. Pillar One Pillar One would
See MoreTax Inspectors Without Borders: Annual Report
On 28 September 2020 the Tax Inspectors Without Borders (TIWB) published their annual report, covering the period from January 2019 to June 2020. The report notes that the global heath and economic crisis is impacting the ability of developing
See MoreOECD: Phase 3 Peer Review Reports on Country by Country Reporting
On 24 September 2020, the OECD published a compilation of Phase 3 peer review reports on Country by Country (CbC) Reporting under Action 13 of the action plan on base erosion and profit shifting (BEPS). The OECD/G20 Inclusive Framework on BEPS,
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