OECD releases request for input on multilateral instrument to implement tax treaty related BEPS measures
On 31 May 2016 the OECD released a request for input inviting comments from interested parties on the multilateral instrument to implement the tax treaty related measures in the OECD/G20 action plan on base erosion and profit shifting (BEPS). Input
See MoreIMF report comments on the economic position of Senegal
On 26 May 2016 the IMF issued a report following the completion of the second review of Senegal’s economic performance under a program supported by the Policy Support Instrument (PSI). Senegal’s economic growth increased from 4.3% in 2014 to
See MoreWorld Bank approves funds for Indonesian fiscal policy reform
On 31 May 2016 the World Bank announced the first Indonesia Fiscal Reform Development Policy Loan to strengthen revenue collection and improve the quality of spending. The financing amounting to USD 400 million is to be used to support policy and
See MoreUK: Proposed tax on sugary drinks criticized by pressure group
As part of the budget proposals for 2016 the UK announced a proposal to impose a tax on sugary drinks with effect from April 2018. This would apply to soft drinks with sugar content above a certain level and would be imposed on the manufacturers of
See MoreIMF report comments on fiscal policy in Poland
On 16 May 2016 the IMF published a report on Poland following the completion of discussions under Article IV of the IMF’s articles of agreement. Poland’s economy is expanding rapidly and growth reached 3.6% in 2015. Growth is expected to remain
See MoreIMF comments on the economic and fiscal position of France
On 24 May 2016 the IMF published a report on its website following the conclusion of consultations with France under Article IV of its articles of agreement. The IMF notes in the report that France’s economy is recovering but major efforts are
See MoreIMF report comments on economic situation of Czech Republic
On 16 May 2016 the IMF published a report following conclusion of talks with the Czech Republic under Article IV of its articles of agreement. Following a 4.2% expansion of the economy in 2015 growth in the Czech Republic is expected to slow
See MoreIMF report comments on the economic situation in Bosnia
The IMF has reached a staff agreement with Bosnia and Herzegovina on an arrangement under the Extended Fund Facility and on 24 May 2016 published a press release including the statements of IMF staff teams. The economy of Bosnia is recovering and
See MoreOECD: Technologies for better tax administration
The OECD published a report entitled “Technologies for Better Tax Administration: A Practical Guide for Revenue Bodies” during the meeting of the Forum on Tax Administration on 9 to 11 May 2016. Technologies such as the internet, portal
See MoreOECD: Report on the role of tax service providers
A report entitled “Rethinking Tax Services: The Changing Role of Tax Service Providers in SME Tax Compliance” was published during the meeting of the OECD's Forum on Tax Administration (FTA) on 9 to 11 May 2016. The report looks at the
See MoreIMF report comments on economic position of Luxembourg
On 16 May 2016 the IMF issued a report following the conclusion of talks in Luxembourg under Article IV of the IMF’s articles of agreement. Economic growth in Luxembourg has been strong and reached 4.8% in 2015 driven by net exports of financial
See MoreIMF report looks at the economic position in Norway
Norway’s economy has been hit by the fall in oil prices and a decline in offshore investment. The mainland growth fell to 1% in 2015 with a fall in private investment offset by growth in household consumption, an expansionary fiscal policy and an
See MoreIMF report comments on economic position of Saudi Arabia
On 19 May 2016 the IMF issued a report following the completion of consultations with Saudi Arabia under Article IV of the IMF’s articles of agreement. The real GDP growth rate in Saudi Arabia is projected at 1.2% in 2016, a decrease from the
See MoreEcuador: Tax measures to resolve crisis caused by natural disaster
The National Assembly of Ecuador approved the law containing provisional tax measures to help resolve the crisis caused by the natural disaster of 16 April 2016. Generally, the Law establishes that contributions introduced are non-deductible for
See MorePakistan: Foreign tax registration documents mandatory for non-resident companies
The Federal Board of Revenue (FBR) has proposed to make it mandatory for non-resident companies with or without a permanent establishment (PE) in Pakistan to be registered for tax purposes and to provide their company and business details (including
See MoreOECD: Tax administrations and capacity building
At the meeting of the OECD’s Forum on Tax Administration (FTA) on 9 to 11 May 2016 a publication entitled “Tax Administrations and Capacity Building: A Collective Challenge” was issued. Domestic resource mobilization requires an effective tax
See MoreIMF report comments on Canada’s economic policy
On 9 May 2016 the IMF issued a report after the completion of consultations with Canada under Article IV of the IMF’s articles of agreement. Canada’s economy is facing a test owing to the fall in oil prices. Real GDP growth decreased from 2.5%
See MoreUK: Report by IMF comments on economic and fiscal policy
On 13 May 2016 the IMF issued a report following the completion of consultations with the UK under Article IV of the IMF’s articles of agreement. The report notes that uncertainty arising from the upcoming referendum on EU membership has affected
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