EU removes eight countries from tax haven blacklist
At the meeting of economic and finance ministers (ECOFIN) on 23 January 2018 a decision was made to remove eight countries from the European Union (EU) blacklist of non-cooperative jurisdictions (tax havens). The countries removed from the list are
See MoreOECD: Comments received on discussion draft on mandatory disclosure of CRS avoidance arrangements
On 18 January 2018 the OECD published comments received in relation to new tax rules on the disclosure of common reporting standard (CRS) avoidance arrangements and offshore structures. This follows the issue of a consultation document on the
See MoreOECD: International Compliance Assurance Programme
On 23 January 2018 a pilot program was launched in relation to multilateral risk assessment of large multinational groups. The program known as the International Compliance Assurance Programme (ICAP) is a the pilot for a voluntary programme to use
See MoreIMF says tax reform of US boost global growth
On 22 January 2018, the International Monetary Fund revised upwards its forecast for global economic growth in 2018 and 2019, pointing out that US tax cuts would boost investment in the world's largest economy and help its major trading partners.
See MoreIMF report recommends further reforms in Ethiopia
On 17 January 2018 the International Monetary Fund (IMF) issued a report following the conclusion of consultations with Ethiopia under article IV of the IMF’s articles of agreement. Ethiopia’s average annual GDP growth has been around 10% in
See MoreEU Finance Ministers to review tax haven blacklist
It is reported that the EU Economic and Finance Ministers (ECOFIN) will at their meeting on 23 January 2018 remove some countries from the EU’s blacklist of tax havens following commitments made by the countries to improve their tax policy. It has
See MoreUK: Increase in average length of tax investigations of large companies
It was reported on 15 January 2018 that recent figures from HMRC indicated an increase in the length of time taken to conduct tax investigations of large companies in the UK. In the year to 31 March 2017 the average length of time for investigations
See MoreWorld Bank presents proposals for improving tax collection in the Dominican Republic
A report issued by the World Bank on 17 January 2018 entitled Gearing up for a More Efficient Tax System in the Dominican Republic presents proposals for raising the level of tax collection. The report notes that tax is lost to a greater extent than
See MoreIMF report comments on the economic position of Croatia
On 16 January 2018 the International Monetary Fund (IMF) published a report following the conclusion of consultations with Croatia under article IV of the IMF’s articles of agreement. Croatia experienced its third year of positive economic growth
See MoreIMF report comments on economic position of Tanzania
On 10 January 2018 the International Monetary Fund (IMF) completed the final review of Tanzania’s economic performance under a program supported by the Policy Support Instrument (PSI). Recently Tanzania’s economy has had a mixed performance and
See MoreIMF publishes report on the economic situation of Belgium
On 18 December 2017 the International Monetary Fund (IMF) published a report on Belgium following discussions under article IV of the IMF’s articles of agreement. The report notes that the economy is recovering with a projected 1.75% rise in GDP
See MoreIMF report comments on the economic position of Nigeria
On 22 December 2017 the International Monetary Fund (IMF) issued a report on Nigeria following consultations under Article IV of the IMF’s articles of agreement. Economic activity expanded at an annual rate of 1.4% in the third quarter of 2017,
See MoreIMF report looks at the UK economy
On 20 December 2017 the International Monetary Fund (IMF) published on its website a report following consultations with the UK under Article IV of the IMF’s articles of agreement. The IMF report notes that owing to the aging population in the UK
See MoreWorld Bank: Project to improve tax collection in Latvia
A press release of 18 December 2017 announced that the World Bank is to assist Latvia’s tax administration to increase tax collection by improving revenue mobilization and reducing compliance costs. The project is partly financed by the European
See MoreOECD: Tax Talk Summarizes Progress on Tax Topics
On 15 December 2017 the OECD gave an online Tax Talk to summarize the progress made on the various ongoing tax initiatives. Harmful Tax Practices Peer review reports on the exchange of tax rulings were published in December 2017. More than 10,000
See MoreOECD: 2017 edition of the Model Tax Convention released
On 18 December 2017 the OECD released the 2017 edition of the Model Tax Convention. This edition incorporates measures outlined in the final reports from the action plan on base erosion and profit shifting. The new edition reflects work on BEPS
See MoreOECD: second round of peer reviews on tax dispute resolution mechanisms
On 15 December 2017 the OECD issued the second round of analyses of individual country measures on improving dispute resolution mechanisms. This second batch consists of seven peer review reports and represents more stage 1 evaluations of the
See MoreIMF: Report comments on economic and fiscal position of Hong Kong SAR
On 29 November 2017 the International Monetary Fund (IMF) published a report on its website following consultations with the Hong Kong Special Administrative Region (SAR) of China under Article IV of the IMF’s articles of agreement. The Hong Kong
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