OECD: Impact of the International Academy for Tax and Financial Crime Investigation
On 22 September 2022 the OECD published an impact assessment of the International Academy for Tax and Financial Crime Investigation, based on an assessment carried out in 2021. The assessment looked at the impact on tax officials and on national tax
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OECD: Practical Guide on Capacity Building
On 7 September 2022 the OECD published a report on Tax Capacity Building: A Practical Guide to Developing and Advancing Tax Capacity Building Programmes. The report looks at considerations to be taken into account in formulating a tax capacity
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IMF Report Considers Austria’s Fiscal Position
On 2 September 2022 the IMF published a report following the conclusion of discussions with Austria under Article IV of the IMF’s articles of agreement. The IMF report notes that Austria’s economy has recovered strongly from the problems
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OECD: Impact of Population Ageing on Government Revenue
On 30 August 2022 the OECD published a Fiscal Federalism paper dealing with the effect of population ageing on tax revenue across all levels of government. The study is part of a larger project examining the fiscal challenges of population ageing.
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UK: Capital gains tax statistics
On 5 August 2021 the UK released the latest annual statistics for capital gains tax (CGT) collections. The statistics are based on self-assessment tax returns that report a CGT liability. Record amounts of capital gains were reported in 2020/21
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IMF Report Looks at the US Economic Situation
On 12 July 2022 the IMF published a report following consultations with the US under Article IV of the IMF’s articles of agreement. The US has recovered quickly from the economic shock caused by the pandemic although the recovery of demand,
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OECD: Population Ageing and the Fiscal Sustainability of Health Care
On 30 June 2022, as part of the series of Fiscal Federalism Working Papers, the OECD published a paper entitled Ageing and the long-run fiscal sustainability of health care across levels of government. In the next 20 years government tax revenue
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IMF Report Considers Austria’s Economic Situation
On 13 June 2022 the IMF published a report following discussions with Austria under Article IV of the IMF’s articles of agreement. Although Austria’s economy was seriously impacted by the pandemic, partly due to the size of the tourism
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Russia: CBR cuts the key rate to 9.50%
On 10 June 2022, the Central Bank of Russia announced its decision to lower the policy rate after the Bank of Russia Board of Directors decided to cut the policy rate by 150 basis points to 9.50% per year. For tax purposes, the base rate is used
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IMF Report Considers Romania’s Economic Situation
On 10 June 2022 the IMF published a report following discussions with Romania under Article IV of the IMF’s articles of agreement. Romania’s economy recovered well after the pandemic; but is now facing strong challenges. The GDP
See MoreUK: HMRC exercises new powers to combat electronic sales fraud
On 31 May 2022 HMRC announced that a number of businesses had been visited and some arrests made following the introduction of new powers to combat the use of electronic sales suppression (ESS) systems. Around 30 businesses, including including
See MoreUK: HMRC Data on Financial Assets Held Abroad
It was reported on 31 May 2022 that UK residents had GBP 850 billion in financial accounts overseas in 2019 (the latest year for which statistics are available) of which GBP 570 billion was based in tax havens. This data was disclosed by HMRC in
See MoreSouth Africa: SARS updates interest rate tables
On 18 May 2022, the South African Revenue Service (SARS) published updated interest rate tables. The South African Reserve Bank changed the “repo rate” on 19 May 2022, effective 1 June 2022. For ease of reference, the tables of interest
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OECD: Taxing Wages 2022
On 24 May 2022 the OECD published the latest issue of the annual publication Taxing Wages 2022. This sets out details of taxes paid on wages in OECD countries, covering personal income taxes and social security contributions paid by employees;
See MoreIMF Report Recommends Policy Changes for Germany
On 23 May 2022 the IMF published a report following discussions with Germany under Article IV of the IMF’s articles of agreement. Germany’s economic recovery was gathering strength before the Ukraine war began, but the war has impacted the
See MoreUK: Research on Benefits of Money Service Businesses
On 9 May 2022 the UK government published the results of research commissioned by HMRC to understand the economic and social benefits of the Money Service Business (MSB) sector in the UK. MSBs are businesses that allow customers to send money,
See MoreIMF Report Considers Fiscal Policy in Denmark
On 9 May 2022 the IMF issued a report following discussions with Denmark under Article IV of the IMF’s articles of agreement. The economic recovery is likely to continue in Denmark, with the lifting of restrictions introduced during the
See MoreUK: Statistics for Investments under the EIS, SEIS and SITR
On 5 May 2022 the UK government published statistics for the Enterprise Investment Scheme (EIS), the Seed Enterprise Investment Scheme (SEIS) and Social Investment Tax Relief (SITR). These latest statistics show the amount of funds raised by
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