OECD: Peer Review Report on Transparency and EOI in Thailand
On 8 November 2023 the Global Forum published a peer review report on Thailand's implementation of the standard on transparency and exchange of information. Thailand joined the Global Forum in 2017 and made efforts to establish the necessary legal
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Pakistan: Peer Review Report on Exchange of Information and Transparency
On 8 November 2023 the Global Forum published the second-round peer review report assessing Pakistan’s practical implementation of the standard on transparency and exchange of information on request (EOIR). The latest peer review assessment
See MoreUN: High-Level Dialogue on Financing for Development
On 20 September 2023 the UN held a high-level dialogue on financing for development, including a session on Promoting inclusive and effective international tax cooperation and mobilizing domestic resources. Keynote addresses were given by the
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OECD: Tax Transparency In Latin America 2023
On 27 June 2023 the OECD published Tax Transparency in Latin America 2023, during the latest meeting of the Punta del Este initiative. The Punta del Este Declaration aimed to tackle tax evasion and avoidance and other financial crimes by promoting
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UK: Tax Gap for 2021/22
On 22 June 2023 HMRC published details of the UK’s tax gap for 2021/22. The tax gap is a measure of the difference between the amount of tax that should have been collected by HMRC, and the amount that was actually paid. The tax that should be
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UK: Consultation on HMRC’s Information and Data Gathering Powers
On 27 April 2023 the UK government published a consultation document with the title The Tax Administration Framework Review – Information and Data. The government requested input on HMRC’s information and data-gathering powers, and how they
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UK: More Severe Penalties for Promoters of Tax Avoidance
On 27 April 2023 the UK issued a consultation document on more severe penalties for promoters of tax avoidance, inviting comments from interest parties by 22 June 2023. Criminal offence for failure to comply with a Stop Notice The document
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South Africa: Peer Review on Transparency and Exchange of Information
The second-round peer review report on South Africa’s implementation of standards on the exchange of information on request was published by the OECD’s Global Forum on 9 November 2022. The report notes that South Africa is largely compliant with
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OECD: Peer Review Report on the Automatic Exchange of Financial Account Information
On 9 November 2022 the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes published a peer review report on the automatic exchange of financial account information. The Global Forum monitors and reviews the
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Israel: Peer Review on Transparency and Exchange of Information
The second stage, phase one peer review report on Israel’s implementation of standards on the exchange of information on request was published by the OECD on 9 November 2022. The first review noted that although a regulatory framework was in
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UN: Increasing Tax Transparency
At the meeting of the UN Committee of Experts on International Cooperation in Tax Matters from 18 to 21 October 2022 the Subcommittee on increasing tax transparency reported on its work program. The Subcommittee was formed to consider ways to
See MoreOECD: Tax Administration 3.0 and the Digital Identification of Taxpayers
During the plenary meeting of the OECD’s Forum on Tax Administration (FTA) held from 28 to 30 September, a report was released looking at the state of maturity of the use of digital identities within tax administrations. This was one of a number
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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
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
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,
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