OECD: Revenue Statistics in Asian and Pacific Economies
OECD: Revenue Statistics in Asian and Pacific economies On 29 November 2018 the OECD released the fifth edition of Revenue Statistics in Asian and Pacific Economies . This shows that tax-to-GDP ratios have fallen in most of the 16 Asian and
See MorePlatform for Collaboration on Tax: Closing Statement of Conference on Tax and SDGs
On 16 February 2018 the Platform for Collaboration on Tax (PCT) released the closing statement following its conference on taxation and the sustainable development goals (SDGs). The PCT was set up by the IMF, OECD, UN and World Bank at the request
See MoreOECD: Updated report on preferential tax regimes
Action 5 of the OECD/G20 action plan on base erosion and profit shifting (BEPS) aimed to counter harmful tax practices more effectively, taking into account transparency and substance. The minimum standard set out in the final report on Action 5
See MorePanama deposits instrument of ratification for convention and protocol on mutual administrative assistance in tax matters
Panama deposited its instrument of ratification for the multilateral convention on mutual administrative assistance in tax matters, as amended by the 2010 protocol, on 16 March 2017. The Convention and the amending protocol will enter into force 3
See MorePanama ratifies Convention on Mutual Administrative Assistance in Tax Matters
On 21 February 2017, the multilateral Convention on Mutual Administrative Assistance in Tax Matters was ratified by Panama, as amended by the 2010 protocol, by way of Law No. 5, as published in Official Gazette No. 28225B of 23 February
See MorePanama: National Assembly of Panama approves Convention on Mutual Administrative Assistance
On 14 February 2017, the multilateral Convention on Mutual Administrative Assistance in Tax Matters was approved by the National Assembly of Panama, as amended by the 2010
See MoreVietnam: A new legal framework for the international sale of goods
Recently, Vietnam ratified the UN agreement on contracts for the international sale of goods (CISG), which took effect on 1 January 2017. With this ratification expanding and complementing Vietnam’s existing domestic legal framework for the sale
See MoreSpain: IMF urge to fiscal reform
The International Monetary Fund (IMF) published the Staff Concluding Statement of the 2016 Article IV mission on 13 December 2016. The statement includes a series of recommendations in order to improve the Spanish economy; it includes labour,
See MoreOECD research considers the effectiveness of carbon tax and emissions trading
A report released by the OECD on 26 September 2016 entitled Effective Carbon Rates: Pricing CO2 through Taxes and Emission Trading Systems suggests that current carbon prices are not high enough to reduce greenhouse gas emissions. The research also
See MoreMeeting of the UN Committee of Experts on International Cooperation in Tax Matters
The UN committee of Experts on International Cooperation in Tax Matters is meeting for its twelfth session in Geneva from 11 to 14 October 2016. The meeting is due to discuss issues connected to updating the UN Model Tax Convention and other matters
See MoreIMF comments on economic position of Jamaica
On 19 September 2016 the IMF issued a press release following the 13th Review under the Extended Fund Facility (EFF) with Jamaica. Jamaica’s economy is improving with an agricultural recovery, a strong performance in tourism and manufacturing and
See MoreIMF comments on tax policy in Sri Lanka
On 23 September 2016 the IMF issued a press release following the conclusion of a staff visit to Sri Lanka to discuss the progress of the economic reform program. Sri Lanka’s economic performance in the first half of 2016 shows an improved
See MoreOECD report on tax policy reforms in 2015
The OECD has issued a report entitled “Tax Policy Reforms in the OECD 2016”. This is the first edition of an annual monitoring project that will provide a summary of tax reforms in OECD countries each year. This report identifies the tax policy
See MoreIMF to support economic reform in Bosnia
On 9 September 2016 the IMF issued a report in relation to Bosnia’s economy following the granting of funds under the Extended Finance Facility to support a more competitive economy to attract investment and create private sector jobs. Bosnia has
See MoreG20 leaders comment on tax policy
The final communiqué from the G20 summit held in Hangzhou, China on 4 and 5 September 2016 began by noting that although the global economy is recovering from the crisis growth is still relatively weak. New sources for growth are emerging but
See MoreWTO backs Argentina’s anti-avoidance tax measures
The Appellate Body of the World Trade Organization (WTO) provided its report on 14 April 2016, regarding "Argentina – Measures relating to trade in goods and services" case brought by Panama. In the case concerned, and in relation to Argentina's
See MoreOECD: Meeting of Task Force on Tax and Development
The OECD’s Task Force on Tax and Development met on 1 March 2016 to discuss the inclusive framework for implementing the OECD’s recommendations on base erosion and profit shifting (BEPS) on a global basis, including the initiatives to support
See MoreIMF comments on Luxembourg tax changes
As part of a report on Luxembourg’s economic position following discussions under Article IV of its articles of agreement the IMF has commented on the current tax reform. The report notes that implementation of the international tax transparency
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