OECD: G20 Finance Ministers agree in principle to Pillars 1 and 2 on taxation of the digital economy
At the meeting of the G20 Finance Ministers on 4 June 2021 agreement was reached in principle on the two-pillar approach to the tax challenges of the digital economy. Some important details of the approach still need to be worked out, and more
See MoreEU: Annual Report on Taxation 2021
On 18 May 2021 the European Union (EU) published the Annual Report on Taxation 2021 assessing progress made by EU Member States in aligning their tax policies with the EU’s tax priorities to promote innovation and productivity, encourage
See MoreEU: European Commission sets out future agenda for business taxation
On 18 May 2021 the European Commission adopted a Communication on Business Taxation for the 21st Century setting out its vision for supporting business during the economic recovery and achieving fairer taxation. Ensuring effective
See MoreOECD case study on combating international tax avoidance in Senegal
On 21 May 2021 the OECD published a Tax and Development Case Study entitled “Fighting International Tax Avoidance and Evasion to Finance the Emergence of Senegal”. Senegal aims to be an emerging economy by 2035, and a ten-year development
See MoreIMF: Financing needs for Africa
On 18 May 2021 a talk by the Managing Director of the IMF at a summit on the financing of African countries noted that Africa needs to take full advantage of the shifts in the global economy toward digital-driven, low-carbon and climate resilient
See MoreAfrican Tax Administration Forum Releases New Pillar One Proposals
The African Tax Administration Forum (ATAF) has issued a revised set of Pillar One Proposals in response to the OECD's blueprint reports released late last year and the recent proposals put forth by the United States. The proposals suggest
See MoreIMF: A Post-Pandemic Assessment of the Sustainable Development Goals
An IMF discussion note published on 29 April 2021 entitled A Post-Pandemic Assessment of the Sustainable Development Goals, written by Dora Benedek, Edward Gemayel, Abdelhak Senhadji, and Alexander Tieman, looked at a framework for developing
See MoreIMF report looks at fiscal policy in Guatemala
In April 2021 the IMF issued a concluding statement following a consultation with Guatemala under Article IV of the IMF’s articles of agreement. Suspension of non-essential activities contained the impact of the pandemic in its early stages
See MoreIMF: Report looks at fiscal policy in Hungary
On 3 May 2021 the IMF issued a concluding statement following a consultation with Hungary under Article IV of the IMF’s articles of agreement. Following a 5% contraction in output during the pandemic in 2020 the economy is expected to recover
See MoreOECD: Revenue Statistics for Latin America and the Caribbean 2021
On 22 April 2021 the OECD published Revenue Statistics in Latin America and the Caribbean 2021 . This is a joint publication of the OECD with the Inter-American Center of Tax Administrations (CIAT), the Economic Commission for Latin America and the
See MoreOECD: Case Study on Strengthening Tax Transparency in Uganda
On 16 April 2021 the OECD issued a tax and development case study entitled Strengthening tax transparency to combat tax evasion, illicit financial flows and profit shifting in Uganda. The case study looks at how international and development
See MoreUN: Tax Committee Approves Handbook on Carbon Taxation for Developing Countries
The twenty-second session of the UN Committee of Experts on International Cooperation in Tax Matters, held from 19 to 28 April 2021 has approved the final chapters of the Handbook on Carbon Taxation for Developing Countries. The whole publication
See MoreOECD: Tax Policy Reforms 2021
On 21 April 2021, the OECD published Tax Policy Reforms 2021 giving an overview of the tax policy of around 70 jurisdictions, including the OECD and G20 countries and some members of the Inclusive Framework on base erosion and profit shifting
See MoreIMF press briefing discusses World Economic Outlook for April 2021
The IMF press briefing following the publication of the World Economic Outlook for April 2021 clarified some issues arising. Phasing out support The fiscal support provided by countries during the pandemic should be well targeted to affected
See MoreIMF: World Economic Outlook for April 2021
The IMF publication World Economic Outlook for April 2021 notes that the global economic outlook is still uncertain, with potential downside effects from new virus mutations balanced by optimism owing to the vaccines. Global growth is projected to
See MoreIMF: Fiscal Monitor Looks at Tax Policy for the Recovery
The IMF Fiscal Monitor for April 2021 entitled A Fair Shot discusses actions in response to COVID-19 and looks at policies that can prepare for a greener and more durable recovery. Low-income countries currently have large budget deficits and
See MoreIMF: Discussion of Tax Aspects of the Fiscal Monitor Reports
On 7 April 2021 the IMF held a press briefing to discuss the latest issue of the IMF Fiscal Monitor. The Fiscal Monitor for April 2021 looks at the actions countries have taken in response to the pandemic and discusses how government policies
See MoreUS Treasury Secretary backs the OECD talks on Global Minimum Tax
On 5 April 2021 the US Treasury Secretary Janet Yellen announced that she is working with the G20 countries to reach an agreement on a global minimum corporate tax rate. This is a reference to US cooperation with the G20/OECD initiative to design a
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