OECD: Model Manual on Exchange of Information Now Available in Four Languages
On 7 July 2022 the OECD noted on its website that the Model Manual on Exchange of Information is now available in four languages – English, French, Spanish and Portuguese. The current version of the Manual was issued on 16 September 2021 in the
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IMF: Revenue Mobilisation in the Middle East and Central Asia
On 6 July 2022 the IMF published a departmental paper entitled Revenue Mobilization for a Resilient and Inclusive Recovery in the Middle East and Central Asia. The paper looks at strategies to improve revenue collection in countries of the
See MoreBRICS Summit Declaration Notes Progress on Tax and Customs Cooperation
Following the virtual BRICS summit held on 23 June 2022, the Beijing Declaration emphasised the need to cooperate to promote economic recovery. The BRICS group of emerging powers – Brazil, Russia, India, China and South Africa – has
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OECD: Tax Administration 2022
On 23 June 2022 the OECD’s Forum on Tax Administration (FTA) issued Tax Administration 2022, which is the tenth edition of the report. The report sets out internationally comparative data on various features of tax systems and tax
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OECD: Tax Transparency in Africa 2022
On 14 June 2022, during the meeting of the Africa Initiative, the OECD published Tax Transparency in Africa 2022. The report looks at progress made in tax transparency and exchange of information to combat tax evasion and other illicit financial
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 MoreOECD: Report to G7 on Tax Cooperation for the 21st Century
On 20 May 2022 the OECD published a report on Tax Cooperation for the 21st Century. The German G7 Presidency requested the report from the OECD to examine further moves to strengthen international tax co-operation and make recommendations for
See MoreOECD: Tax Transparency in Latin America
On 3 May 2022 the OECD published the report Tax Transparency in Latin America 2022. The report was released during a meeting of the Punta del Este Declaration Initiative, which aims to tackle tax evasion and avoidance and other financial crimes by
See MoreOECD: Assessing Tax Compliance and Illicit Financial Flows in South Africa
On 25 April 2022 the OECD’s Centre for Tax Policy and Administration issued jointly with South Africa’s National Treasury a publication entitled Assessing Tax Compliance and Illicit Financial Flows in South Africa. Achieving the sustainable
See MoreOECD: IT Format for Exchanging Information on Online Sellers
On 29 March 2022 the OECD published a specialized IT format for use by digital platforms when submitting tax information in respect of the vendors that use their platform. The purpose of the format is to increase the ability of digital platforms to
See MoreOECD: Public Consultation on Tax Transparency Framework for Crypto-Assets
On 22 March 2022 the OECD published a consultation document in relation to a global tax transparency framework for reporting crypto-assets and proposed changes to the common reporting framework for automatic exchange of financial account
See MoreOECD: Global Forum launches Asia Initiative
On 16 February 2022 the first meeting of the Asia Initiative was held by the Global Forum on Transparency and Information Exchange for Tax Purposes. Taking part in the meeting were senior officials from 18 Asian members of the Global Forum and
See MoreOECD: 2022 Global Forum Capacity Building Report
On 3 February 2022 the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes published the 2022 Global Forum Capacity Building Report. Over the past decade the Global Forum has been involved in capacity building to
See MoreSwitzerland: Review of international financial and tax developments in 2021
On 25 January 2022 Switzerland’s State Secretariat for International Financial Matters published its summary for 2021 entitled: Swiss financial and tax centre in 2021: more sustainable, more digital and in good shape despite the pandemic. The
See MoreOECD: Peer Review Report on Harmful Tax Practices
On 14 December 2021 the OECD published a report entitled: Harmful Tax Practices – 2020 Peer Review Reports on the Exchange of Information on Tax Rulings. The standard under Action 5 of the OECD/G20 action plan on base erosion and profit
See MoreOECD: Building Effective Beneficial Ownership Frameworks
In November 2021 the Global Forum on Transparency and Exchange of Information for Tax Purposes, in collaboration with the Inter-American Development Bank (IDB), published a toolkit on Building Effective Beneficial Ownership
See MoreOECD: Toolkit on Implementing the Standard on Exchange of Financial Account Information
In November 2021 the Global Forum on Transparency and Exchange of Information for Tax Purposes issued the Toolkit for the Implementation of the Standard for Automatic Exchange of Financial Account Information. The toolkit aims to assist developing
See MoreOECD: Model Manual on Exchange of Information
On 16 September 2021 the Global Forum on Transparency and Exchange of Information for Tax Purposes, the World Bank Group and the African Development Bank issued a new version of the Manual on Exchange of Information. The previous version of the
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