UK announces 2024 autumn budget
The UK autumn budget announcements were delivered today, 30 October 2024. Corporation tax The main rate of corporation tax will stay at 25% until the next election. National insurance National Insurance contributions for employers is to
See More
European Commission approves Danish State Aid for greenhouse gas tax cuts
The European Commission announced it approved, under EU State aid rules, a EUR 724 million (DKK 5.4 billion) Danish scheme to lower the rate of new greenhouse gas (GHG) emissions tax for certain companies. The scheme offers a reduced tax rate for
See More
IMF Annual Meetings: Regional Economic Outlook – Sub-Saharan Africa
On 25 October 2024 the IMF presented the latest regional outlook for Sub-Saharan Africa. The report notes that the region is making economic progress, but macroeconomic vulnerabilities are persistent. Countries in the region are trying to implement
See More
IMF: Speech by the IMF Managing Director at the 2024 Annual Meetings Plenary
On 25 October 2024 the IMF Managing Director, Kristalina Georgieva, spoke at the 2024 Annual Meetings Plenary. The Managing Director noted that inflation has been falling, from 5.7% in the fourth quarter of 2023, to a projected 5.3% in the
See More
UN: Resolution on Negotiating Committee for Framework Convention for International Tax Cooperation
On 14 October 2024 a Resolution was drafted by Nigeria on behalf of the Africa group at the UN, to adopt the terms of reference for the UN Framework Convention on International Tax Cooperation. The draft Resolution referred to the work of the Ad Hoc
See MoreIMF and World Bank Annual Meetings: Regional Economic Outlook – Europe
On 23 October 2024 the IMF launched the latest issue of the Regional Economic Outlook for Europe. Europe’s economic recovery is continuing after a strong response to the recent crises. However, the recovery is falling short of Europe’s full
See More
IMF/World Bank Annual Meetings: World Economic Outlook
The October 2024 update of the World Economic Outlook was launched during the IMF/World Bank annual meetings. The report notes that global growth is expected to remain stable but at relatively low levels. The growth projection of 3.2% in 2024 and
See More
IMF and World Bank Group Annual Meetings: Fiscal Monitor Press Briefing
On 23 October 2024 the IMF held a press briefing on the launch of the latest issue of the Fiscal Monitor. On the panel for the press briefing were VÃtor Gaspar, Director of the IMF Fiscal Affairs Department; Era Dabla-Norris, Deputy Director of the
See More
UN Tax Committee: Indirect Tax Issues
On 18 October 2024 the subcommittee on indirect tax issues presented a series of papers on VAT guidance for developing countries. The papers had been presented to the Tax Committee for comment at the previous session and were now submitted in their
See More
UN Tax Committee: Tax, Trade and Investment Agreements
On 17 October the UN Tax Committee discussed issues around the interaction of tax, trade and investment agreements. Guidance on tax and investment agreements Following the presentation of draft guidance on the relationship of tax and
See More
IMF: Opening speech at the IMF and World Bank Annual Meetings
On 21 October 2024 the IMF Managing Director Kristalina Georgieva delivered the opening speech at the IMF and World Bank Group Annual Meetings. The global wave of inflation is currently decreasing owing to a combination of resolute monetary
See More
UN Tax Committee: Environmental Taxation
On 16 October 2024 the UN Tax Committee discussed environmental tax issues. The environmental taxation subcommittee presented some papers to the committee for discussion or approval. Phasing out fossil fuel subsidies A paper on phasing out
See More
UN Tax Committee: Issues in Extractive Industries Taxation
On 15 October 2024 the UN Tax Committee discussed developments in their work on extractive industries taxation. The work of the relevant subcommittee has focused on the energy transition; the valuation of mining products for tax purposes; and tax
See More
UN Tax Committee: Wealth and Solidarity Taxes
On 16 October 2024 the UN Tax Committee discussed progress in the work on wealth and solidarity taxes. The work of the relevant subcommittee aims to present practical options to assist countries in domestic resource mobilization and in addressing
See MoreUN Tax Committee: Progress on Handbook on Health Taxes
On 18 October 2024 the UN Tax Committee held a first discussion on some new chapters of the Handbook on Health Taxes for Developing Countries. The subcommittee also presented revised versions of some chapters that had already been presented at an
See More
UN Tax Committee: Transfer Pricing Issues
On 16 October 2024 the UN Tax Committee discussed transfer pricing issues. The transfer pricing subcommittee presented for approval a paper on dispute resolution addressing the implementation of advance pricing agreement (APA) programs. The
See More
OECD launches second BEPS Action 5 review, releases initial BEPS Action 14 peer reviews
The Organisation for Economic Cooperation and Development (OECD) announced a second series of peer reviews for BEPS Action 5 and released the initial two batches of BEPS Action 14 peer reviews. These are part of the streamlined mutual agreement
See More
Algeria joins mutual assistance convention to combat tax evasion
Amel Abdellatif, Tax Commissioner of Algeria signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the Convention), as amended by the 2010 protocol, on 10 October 2024. The Convention must first be ratified
See More