German Upper House Approves MLI to Implement Tax Treaty Related BEPS Measures
On 6 November 2020 the Bundesrat (the upper house in the German parliament) gave its approval to ratifying the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, also known as the
See MoreOECD: Tax Crime Investigation Maturity Model
On 30 November 2020 the OECD published a publication outlining the Tax Crime Investigation Maturity Model. The maturity model has been developed to help jurisdictions to assess their capability in relation to the investigation of tax crimes and to
See MoreOECD and IMF: Report on Analysis of Tax Expenditures in Chile
A report was issued on 23 November 2020 following a mission conducted by staff from the IMF and the OECD from April to October 2020. The main purpose was to provide technical support in relation to the methodology for reviewing Chile's tax
See MoreOECD: Tax relief for philanthropic entities
A report published by the OECD entitled Taxation and Philanthropy contains a detailed review of the taxation of philanthropic entities and donors in 40 countries, setting out potential policy options for countries. Reasons for giving tax
See MoreIMF: Report Analyses the Economic Situation in Georgia
On 10 November 2020 the IMF and Georgia completed a staff-level agreement for the completion of the Seventh Review under the Extended Fund Facility. The IMF team expects GDP growth to rebound to 4.3% in 2021 as the effects of the pandemic
See More
IMF: Report on the Economic Situation in Georgia
On 10 November 2020 the IMF and Georgia completed a staff-level agreement for the completion of the Seventh Review under the Extended Fund Facility. The economic shock from the pandemic is projected to cause a contraction of the economy of
See MoreIMF: Concluding Statement Following a Review of the UK Economy
On 29 October 2020 the IMF published a report on the UK economy following the conclusion of the 2020 Article IV consultations. In the UK the pandemic has been more severe than in most other European countries, impacting an economy already
See MoreIMF: Report on Economic Measures in France
On 2 November 2020 the IMF published a report following a virtual visit to France as part of the 2020 Article IV consultations. France has introduced flexible emergency support packages to provide additional stimulus from 2021 onward. An
See MoreOECD: Economic Impact of Pillar One and Pillar Two
At a presentation on 12 October 2020 introducing Blueprint reports on Pillar 1 and Pillar 2 of the proposals on taxation of the digital economy, the OECD presented an economic impact analysis of the proposals. Pillar One Pillar One would
See MoreOECD: Taxation of Virtual Currencies
On 12 October 2020 the OECD released a report on taxing virtual currencies that was prepared for the meeting of G20 Finance Ministers. The report looks at the tax treatment of virtual currencies, considering income tax, consumption tax and property
See MoreSweden: Countermeasures in the tax area against non-cooperating jurisdictions
On 13 October 2020, the Swedish Ministry of Finance has issued a press release, where they confirm that a draft bill was submitted to the Parliament to restrict deductions for interest expenses paid to non-cooperative jurisdictions. The
See MoreOECD: Report on Blueprint for Pillar Two of Digital Economy Taxation
On 12 October 2020 the OECD introduced a report on the Pillar Two Blueprint on digital economy taxation. Pillar Two aims to ensure that large multinational enterprises pay a minimum level of tax regardless of the location of their headquarters
See MoreOECD: Report on Pillar One Blueprint on Digital Economy Taxation
On 12 October 2020 the OECD introduced a report on the Pillar One Blueprint on digital economy taxation. Pillar One consists of a new taxing right for market jurisdictions over a share of residual profit calculated at an MNE group or segment
See MoreWTO: Role of trade policies in addressing plastic pollution
On 30 September 2020 the WTO Deputy Director-General addressed the role of trade policy in combating plastic pollution. Trade regulations, border duties and taxes, domestic tax law and incentives in the form of subsidies are some of the tools that
See MoreBosnia and Herzegovina deposits ratification Instrument for convention on mutual administrative assistance in tax matters
On 21 September 2020, Bosnia and Herzegovina deposited its instrument of ratification for the multilateral convention on mutual administrative assistance in tax matters, as amended by the 2010 protocol. The Convention will enter into force for
See MoreOECD: Tax Policy Review of Kazakhstan
On 24 September 2020 the OECD issued a report on the tax policy review of Kazakhstan. The report covers income tax, social security contributions, value added tax (VAT) and corporation tax. The research was performed before the COVID-19 pandemic
See MoreEU: Report on the VAT Gap in the EU Member States
In a press release of 10 September 2020, the European Commission presented the 2020 Study and Reports on the VAT Gap in the 28 EU Member States. The report presents figures on the VAT Gap in the 28 EU member states (including the UK) for
See MoreOECD: Tax Policy for Economic Recovery
An OECD blog post on 3 September 2020 noted that countries have generally acted quickly to limit the economic consequences of the COVID-19 crisis, introducing fiscal packages of various sizes focusing on income support for households and
See More