OECD: Taxing the Informal Economy: Policy, Evidence and Lessons for the Future
On 4 April 2023 a webinar was held to present the results of two studies on presumptive tax regimes and the informal sector, and to draw lessons for the future design of such taxes. The webinar was co-hosted by the International Centre for Tax
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OECD: Communication and Engagement with SMEs
On 3 April 2023 the OECD’s Forum on Tax Administration (FTA) published another report in its series on Supporting Small and Medium-sized Enterprises to Get Tax Right, this time looking at ways in which tax administrations can organise
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IMF Report Looks at Tanzania’s Economy
On 24 April 2023 the IMF issued a report following the first review of the extended credit facility (ECF) Arrangement and the 2023 Article IV Consultation with Tanzania. Tanzania’s economic reform program is continuing well despite the
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IMF: Leveraging Anti-Money Laundering Measures to Improve Tax Compliance
On 21 April 2023 the IMF published a working paper with the title Leveraging Anti-money Laundering Measures to Improve Tax Compliance and Help Mobilize Domestic Revenues. The paper points out that anti-money laundering (AML) measures could be used
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OECD: Reform Options for Climate Neutrality in Lithuania
On 24 April 2023 the OECD published a report outlining the reform options for Lithuanian climate neutrality by 2050. The report sets out the policy options that could be followed by Lithuania to reach its target for climate neutrality, taking
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OECD: Tax Transparency in Asia
On 27 April 2023 the OECD published Tax Transparency in Asia 2023: Asia Initiative Progress Report. The report documents the progress made by countries in Asia between 2009 and 2022 in implementing the requirements on transparency and exchange of
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OECD: Taxing Wages 2023
On 25 April 2023 the OECD published Taxing Wages 2023, containing the latest annual analysis of tax rates on income from labour in the OECD. The analysis shows that the effective tax rates on labour income rose on average in the countries of the
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Kazakhstan takes legal action against companies over oil fields development
The Government of the Republic of Kazakhstan (RK) represented by the authorized body, PSA, filed a lawsuit against the operators of the Kashagan and Karachaganak fields. The reason of the lawsuit is the inclusion of unreasonable expenses by the
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Singapore introduce a new enterprise innovation scheme
The government of Singapore announced a new enterprise innovation scheme in Budget 2023 .The Enterprise Innovation Scheme (EIS) is a new initiative announced in Budget 2023 to encourage businesses to engage in research and development, innovation,
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IMF Report Considers the Economic Outlook in Poland
On 24 March 2023 the IMF published a report following discussions with Poland under Article IV of the IMF’s articles of agreement. The report notes that the Polish economy has been facing difficulties as a result of the Ukraine war. Economic
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IMF: Working Paper on Tax Buoyancy
On 17 March 2023 the IMF published a working paper with the title: A Deep Dive into Tax Buoyancy: Comparing Estimation Techniques in a Large Heterogeneous Panel, by A. Cornevin, J. S. Corrales and J.P. Angel. The paper looks at new evidence relating
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OECD: Peer Review Report on the Prevention of Treaty Shopping
On 21 March 2023 the OECD released the latest peer review results following assessment of the actions taken by each country to prevent tax treaty shopping under BEPS Action 6. The Fifth Peer Review Report on Treaty Shopping assesses the
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Spain: MoF releases public consultation implementing global minimum tax
On 6 March 2023, the Spanish Ministry of Finance published a public consultation document on the transposition of the EU Directive implementing Pillar Two global minimum tax rules (Council Directive 2022/2523 of 14 December 2022, “Minimum Tax
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US: Tax proposals under the budget for fiscal year 2024
On 9 March 2023, U.S. President Joe Biden released the Fiscal Year 2024 Budget introducing following tax proposal. Ensures Corporations Pay Their Fair Share: The Budget includes an increase to the rate that corporations pay in taxes on their
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IMF Report looks at Luxembourg’s Economy
On 10 March 2023 the IMF issued a report following consultations with Luxembourg under Article IV of the IMF’s articles of agreement. Luxembourg’s economy has recovered well from the pandemic despite the external challenges in 2022, although
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OECD: Design of Presumptive Tax Regimes
An OECD Tax Working Paper on the design of presumptive tax regimes was published on 14 February 2023. Presumptive tax regimes aim to simplify the tax compliance process for micro and small businesses. They aim to bring taxpayers into the formal
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OECD: VAT Digital Toolkit for Africa
On 15 February 2023 the OECD published the VAT Digital Toolkit for Africa. In most African countries value added tax (VAT) is a major revenue source that brings in more than one quarter of total tax revenues on average. In 2020, VAT revenues in
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OECD Tax Talk Outlines Latest Developments
On 27 February 2023 the OECD gave an update of recent developments in their tax work. G20 Chair’s summary The G20 Chair’s summary following the meeting of G20 finance ministers and central bank governors confirmed that the G20 remains
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