OECD: Improving cooperation between tax and money laundering authorities
On 18 September 2015 the OECD launched a report dealing with the issue of access by tax administrations to information held by government units dealing with financial intelligence. This publication looks at measures to increase a whole of government
See MoreNigeria: Convention on Mutual Administrative Assistance on tax matters entered into force
As amended by the 2010 protocol, the multilateral agreement on Mutual Administrative Assistance regarding tax matters has been entered into force on 1st September 2015 in Nigeria and it generally applies from 1st January
See MoreASEAN discusses trade with China, Japan and Korea
The economic ministers of the Association of South East Asian Nations (ASEAN) have been meeting their counterparts from China. Japan and South Korea with a view to concluding an economic partnership agreement. China is aiming to conclude an
See MoreMauritius signs Multilateral Convention on Mutual Administrative Assistance in Tax Matters
On 24 June 2015 the OECD announced that Mauritius has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. The Convention provides a framework for cooperation between tax authorities to exchange tax information,
See MoreDenmark: Minister of Taxation Clarifies Danish Treaty Policy
The Ministry of Taxation published a press release summarizing the statements given by the Minister to Parliament on 29 April 2015 in an open hearing regarding the Danish treaty policy. The main emphasis of the hearing was the conclusion of tax
See MoreOECD Working Paper makes recommendations on Slovak tax policy
The OECD has published a Working Paper entitled “Moving beyond the flat tax: tax policy reform in the Slovak Republic”. The paper looks at the Slovak tax system and how it has developed in recent years, and makes various policy
See MoreIceland: IMF makes recommendations on fiscal policy
The International Monetary Fund (IMF) has issued a report following a visit by staff to Iceland for consultations under Article IV of the IMF’s articles of agreement. A selected issues paper has also been published highlighting important themes
See MoreIndia: IMF makes recommendations on fiscal policy
On 11 March 2015 the IMF issued a press release on their consultation with India under Article IV of its articles of agreement. The IMF considers that India’s short term outlook has improved with increased business confidence and several positive
See MoreOECD publishes comments received on VAT/GST guidelines
On 24 February 2015 the OECD published on its website the comments received on its consultation document on aspects of the International VAT/GST Guidelines. Almost fifty responses were received from professional firms, trade and professional bodies
See MoreIMF/ TAXUD conference on Corporate Debt Bias: Economic Insights and Policy Options
The Fiscal Affairs Department of the IMF and the Directorate General for the Taxation and Customs Union held a conference on 23 and 24 February 2015 to discuss the corporate debt bias. This arises from the rule in most tax systems that interest on
See MoreOECD makes recommendations to Italy on tax policy
The OECD Economic Survey of Italy released on 19 February 2015 notes that Italy is undertaking ambitious reforms to increase economic growth. In the past reform projects have not reached full implementation but this time Italy is reforming the
See MoreOECD holds a public discussion on BEPS action 4
On 17 February 2015 a public consultation was held on Action 4 of the OECD/G20 action plan on base erosion and profit shifting (BEPS). This action aims to limit base erosion and profit shifting that takes place through interest and other financial
See MoreMemorandum of understanding between Ukraine and OECD signed
The OECD and Ukraine signed a memorandum of understanding (MoU) on 7 October 2014 to help Ukraine's efforts to tackle corruption, strengthen its tax system and promote competitiveness. The Memo determines priority areas and cooperation forms for
See MoreRussia – Legislation needed for FATCA implementation
Legislation that is needed to implement the FATCA regime in Russia was signed into law on June 30, 2014. The legislation authorizes Russian financial organizations to give information on foreign tax authorities that is needed to collect taxes and
See MoreUS CEOs United On Need for Tax Reform
An annual survey of the views of US Chief Executive Offices (CEOs) reveals that more than 80 percent of those asked are of the opinion that the international tax system must be restructured and around two thirds of those asked want a more
See MoreUK – Shadow Foreign Secretary calls for maximum tax devolution for Scotland
The UK’s shadow foreign secretary has stated that the further devolution of tax powers could strengthen the accountability of the Scottish Parliament. In April 2015 the devolution of Landfill Tax will be carried out and a new Land and Buildings
See MoreEuropean Commission: Belgian taxation rules for credit institutions need reform
The European Commission has requested Belgium to amend its law on the taxation of transactions in specific securities. Belgian law at present only allows credit institutions established in Belgium to operate settlement systems with tax clearing;
See MoreIndia is expected to post a Revenue Service office in Cyprus
India is expected to post a Revenue Service officer in Cyprus early in the new year, just months after it suspended its double tax avoidance agreement (DTAA) with the island. India has set up overseas Tax Units in various countries in an effort to
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