OECD: Enhancing International Tax Transparency on Real Estate
On 17 July 2023 the OECD published a report with the title Enhancing International Tax Transparency on Real Estate for the meeting of G20 finance ministers and central bank governors. Tax authorities do not possess sufficient information on
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OECD: Revenue Statistics in Asia and the Pacific 2023
On 25 July 2023 the OECD issued Revenue Statistics in Asia and the Pacific 2023, setting out revenue data for the region from 2021. The latest edition of the annual publication includes data on tax revenues for 30 jurisdictions in the region and
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OECD: Roadmap on Developing Countries and International Taxation
On 17 July 2023 the OECD produced a report on tax and development issues for the meeting of G20 finance ministers and central bank governors. The report looks at the participation of developing countries in the ongoing work of the Inclusive
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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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OECD: Decarbonisation and Intergovernmental Fiscal Relations
On 6 June 2023 the OECD published a working paper with the title Decarbonisation and intergovernmental fiscal relations: Policy challenges and reform options by Luiz de Mello and Teresa Ter-Minassian. The study represents the latest in a series of
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Kuwait: IMF Report Recommends Implementation of VAT and Excise Taxes
On 5 June 2023 the IMF published a report following consultations with Kuwait under Article IV of the IMF’s articles of agreement. Kuwait’s economy has begun to recover after the pandemic with economic growth estimated at 8.2% in 2022 as a
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OECD: Revenue Statistics in Latin America and the Caribbean 2023
On 16 May 2023 the OECD published Revenue Statistics in Latin America and the Caribbean 2023. The report is a joint publication by the Inter-American Center of Tax Administrations (CIAT), the Inter-American Development Bank (IDB), the UN Economic
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IMF: Cooperative Use of Green Subsidies
An IMF blog published on 11 May 2023 noted that a coordinated approach should be applied to subsidies, if climate change is to be managed successfully. Subsidies are being used worldwide to support the green transition and they can be helpful
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IMF Report Looks at the Economy of Hong Kong SAR
On 4 May 2023 the IMF published a report following discussions with Hong Kong SAR, China under Article IV of the IMF’s articles of agreement. The economy of the Hong Kong SAR economy has been recovering following the problems caused by the
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OECD: Taxing the Informal Economy: Policy, Evidence and Lessons for the Future
On 4 April 2023 a webinar was held to present the results of two studies on presumptive tax regimes and the informal sector, and to draw lessons for the future design of such taxes. The webinar was co-hosted by the International Centre for Tax
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OECD: Reform Options for Climate Neutrality in Lithuania
On 24 April 2023 the OECD published a report outlining the reform options for Lithuanian climate neutrality by 2050. The report sets out the policy options that could be followed by Lithuania to reach its target for climate neutrality, taking
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Russia: Government plan to create free economic zone in new occupied territories
On 20 March 2023, the government of Russia planning to establish of a free economic zone in the new occupied territories of the Donetsk, Zaporizhzhia Kherson, and Lugansk. Taxpayers that meet the criteria for eligibility and operate within the free
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IMF Report Considers the Economic Outlook in Poland
On 24 March 2023 the IMF published a report following discussions with Poland under Article IV of the IMF’s articles of agreement. The report notes that the Polish economy has been facing difficulties as a result of the Ukraine war. Economic
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Germany: MoF publishes draft BEPS 2.0 pillar two implementation bill
On 20 March 2023, the German Ministry of Finance (MoF) published a draft discussion for the implementation of the global minimum tax. It has initiated steps towards enforcing the EU Directive on the adoption of a Global Minimum Tax (2022/2523),
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South Africa introduces reduced income tax rates
On 16 January 2023, the National Treasury of South Africa published a media statement regarding the publication of the country's 2022 tax acts in the Official Gazette. Personal Income Tax Personal income tax rebate has been amended, i.e., a
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Uzbekistan: Tax Changes for 2023
It was reported on 5 January 2023 that the 2023 budget allocations have kept the basic tax rate of profit tax at 15%. The personal income tax rate remains 12%, and the property tax rate continues at 1.5%. The levels of tax collection and government
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IMF Report Looks at the Economy of Kazakhstan
On 14 December 2022 the IMF issued a report following the conclusion of discussions with Kazakhstan under Article IV of the IMF’s articles of agreement. Kazakhstan’s real GDP growth is expected to decrease to 2.7% in 2022, down from 4.3% in
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IMF Report Looks at Tax Reforms in Belgium
On 21 December 2022 the IMF issued a report following the conclusion of discussions with Belgium under Article IV of the IMF’s articles of agreement. Owing to the energy price increases, the federal and regional authorities are supporting to
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