EU: European Parliament Adopts Resolution on Impact of National Tax Schemes
On 15 February 2022 the European Parliament adopted a resolution relating to the impact of national reforms on the economy of the European Union. Resolutions of the European Parliament are not binding on other EU institutions, but they call for
See MoreIMF Report Assesses Colombia’s Economy
On 15 February 2022 the IMF issued a report on the economy of Colombia following discussions under Article IV of the IMF’s articles of agreement. Colombia’s economy is projected to grow by 4.5% in 2022, led by household consumption.
See MoreOECD: Taxation of Development Projects
On 11 February 2022 a blog by the Director of the OECD Centre for Policy Administration and the Director of the OECD Development Cooperation Directorate looked at the taxation of projects financed by foreign aid. Developing countries have
See MoreWorld Bank Economic Memorandum on Albania
On 11 February 2022 the World Bank published a document entitled: Albania Country Economic Memorandum: Strengthening the Sustainability of Albania’s Growth Model. The document looks at Albania’s economic challenges, examines progress with
See MoreIMF Report Examines the Economy of South Africa
On 11 February 2022 the IMF issued a report and a selected issues paper following discussions with South Africa under Article IV of the IMF’s articles of agreement. Economic growth was estimated at 4.6% in 2021 but is projected to reach only
See MoreIMF report looks at tax reforms in Morocco
On 9 February 2022 the IMF published a report following discussions with Morocco under Article IV of the IMF’s articles of association. After contracting in 2020, the economy is estimated to have grown by 6.3% in 2021. GDP growth is projected
See MoreOECD: Consultation on draft rules for nexus and revenue sourcing under Pillar One
On 4 February 2022 the OECD published a public consultation document entitled Pillar One – Amount A: Draft Model Rules for Nexus and Revenue Sourcing, requesting input from stakeholders on the nexus and revenue sourcing rules under Amount A of
See MoreEU: Role of Environmental Taxation in Supporting the Transition to Sustainability
On 7 February 2022 the European Environment Agency (EEA) issued a briefing entitled The role of environmental taxation in supporting sustainability transitions. This examines trends in taxes on pollution, greenhouse gases and resource use and
See MoreIMF report on Israel’s economy recommends tax changes
On 7 February 2022 the IMF published a report on Israel’s economy following discussions under Article IV of the IMF’s articles of agreement. The IMF notes that Israel managed the pandemic well, providing effective government support to the
See MoreOECD: 2022 Global Forum Capacity Building Report
On 3 February 2022 the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes published the 2022 Global Forum Capacity Building Report. Over the past decade the Global Forum has been involved in capacity building to
See MoreGhana Revenue Authority Proposes Revisions to Tobacco Tax
On 26 January 2022 the Ghana Revenue Authority (GRA) announced that revisions to the Tobacco Tax will be implemented later this year after consultations with relevant stakeholders are completed. The GRA intends to introduce a combination of
See MoreUAE: Corporate Income Tax to be Introduced from 2023
On 31 January 2022 the United Arab Emirates (UAE) announced that it is introducing a 9% corporate tax with effect from June 2023. This tax will raise more government revenue as the UAE continues the process of economic diversification,
See MoreIndia: Finance Minister introduces the Budget for 2022-23
On 1 February 2022, the Union Budget for 2022-23 was presented by the Finance Minister Ms. Nirmala Sitharaman. The budget includes the following key tax proposals: The deadline for starting manufacturing/production to claim the 15% reduced tax
See MoreIMF: Report Looks at Japan’s Economic Position
On 27 January 2022 the IMF issued a report on Japan’s economy following consultations under Article IV of the IMF’s articles of agreement. The report notes that Japan’s economy has begun to recover from the pandemic following a supportive
See MoreSwitzerland: Review of international financial and tax developments in 2021
On 25 January 2022 Switzerland’s State Secretariat for International Financial Matters published its summary for 2021 entitled: Swiss financial and tax centre in 2021: more sustainable, more digital and in good shape despite the pandemic. The
See MoreOECD: Second Stage Peer Review of Guernsey under BEPS Action 14
On 24 January 2022 the OECD issued the stage 2 peer review report assessing Guernsey’s compliance with the minimum standard under Action 14 of the project on base erosion and profit shifting (BEPS). Action 14 is concerned with making tax dispute
See MoreOECD: Stage Two Peer Review Report on Jersey under BEPS Action 14
On 24 January 2022 the OECD’s Inclusive Framework published the stage 2 peer review report on Jersey’s compliance with the minimum standard under Action 14 of the project on base erosion and profit shifting (BEPS). Action 14 is concerned with
See MoreOECD: Stage Two Peer Review Report on Serbia under BEPS Action 14
On 24 January 2022 the OECD’s Inclusive Framework released the stage 2 peer review report on Serbia’s compliance with the minimum standard under Action 14 of the project on base erosion and profit shifting (BEPS). The minimum standard under
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