UK: Second Reading of Spring Finance Bill 2023
On 13 June 2023 the UK government published the Tax Information and Impact Notes for government amendments at the report stage of the Spring Finance Bill 2023. The Bill includes the following measures: Multinational Top-up tax: UK adoption of
See More
OECD: Decarbonisation and Intergovernmental Fiscal Relations
On 6 June 2023 the OECD published a working paper with the title Decarbonisation and intergovernmental fiscal relations: Policy challenges and reform options by Luiz de Mello and Teresa Ter-Minassian. The study represents the latest in a series of
See More
Kuwait: IMF Report Recommends Implementation of VAT and Excise Taxes
On 5 June 2023 the IMF published a report following consultations with Kuwait under Article IV of the IMF’s articles of agreement. Kuwait’s economy has begun to recover after the pandemic with economic growth estimated at 8.2% in 2022 as a
See More
Bangladesh: Budget for FY 2023-24
On 1 June 2023, the Finance Minister, Mr. AHM Mustafa Kamal presented the budget in parliament for the fiscal year 2023-24, aiming to accelerate economic growth, promote social development, and address key challenges faced by the nation. The budget
See More
OECD: Net Zero+: Climate and Resilience in a Changing World
On 16 May 2023 the OECD published Net Zero+: Climate and Economic Resilience in a Changing World, focusing on how to drive climate policy forward in the face of various global challenges. The paper looks at how to achieve net zero in a situation
See More
IMF: International Organizations Launch Joint Subsidy Platform
On 25 May 2023 a new Joint Subsidy Platform was launched by the IMF, OECD, World Bank, and WTO. The platform at www.subsidydata.org aims to facilitate dialogue on subsidies by providing easier access to information on the nature and size of
See More
EU: European Commission Announces Proposals for Customs Reform
On 17 May 2023 the European Commission set out proposals for a reform of the EU Customs Union. The proposals are a response to the large increase in the volume of trade in recent years, the growth in e-commerce and the need to enforce EU trading
See MoreIMF Report Assesses the UK Economy
On 23 May 2023 the IMF issued a report following consultations with the UK under Article IV of the IMF’s articles of agreement. The report notes that the UK economy is projected to maintain positive growth in 2023, avoiding a recession owing to
See More
IMF: Role of Fiscal Policy in Firm-level Digitalization
On 5 May 2023 the OECD published a working paper by Manabu Nose and Jiro Honda with the title Firm-level Digitalization and Resilience to Shocks: Role of Fiscal Policy. The study looked at the implications of digitalization for the economy,
See More
OECD: Revenue Statistics in Latin America and the Caribbean 2023
On 16 May 2023 the OECD published Revenue Statistics in Latin America and the Caribbean 2023. The report is a joint publication by the Inter-American Center of Tax Administrations (CIAT), the Inter-American Development Bank (IDB), the UN Economic
See More
WTO: Building on Research for Better Trade Outcomes
A WTO blog by the Deputy Director General (DDG) Anabel Gonzalez published on 16 May 2023 noted that decisions on allocation of political and economic resources must be based on sound research and analysis. Currently it is difficult to implement
See More
IMF Report Makes Policy Recommendations for Germany
On 16 May 2023 the IMF published a report following discussions with Germany under Article IV of the IMF’s articles of agreement. German’s economy has been resilient despite the problems resulting from the Ukraine war and the reduction in
See More
IMF Report Comments on Denmark’s Economy
On 12 May 2023 the IMF issued a report following consultations with Denmark under Article IV of the IMF’s articles of agreement. Denmark has made a strong recovery from the crisis caused by the pandemic, but growth is now more moderate due to
See More
IMF: Mining Revenues and Inclusive Development in Guinea
An IMF working paper on Mining Revenues and Inclusive Development in Guinea by A. Badel and R.F. Lyngaas was published on 29 April 2023. The working paper looked at the potential benefits from increasing the taxation of the foreign extractive
See MoreIMF: Cooperative Use of Green Subsidies
An IMF blog published on 11 May 2023 noted that a coordinated approach should be applied to subsidies, if climate change is to be managed successfully. Subsidies are being used worldwide to support the green transition and they can be helpful
See More
OECD: Consultation Document on Transfer Pricing Issues for Bauxite
On 10 May 2023 the OECD published a consultation document with the title Determining the price of minerals: A Transfer Pricing Framework – Schedule A: Bauxite. This document follows on from the OECD’s toolkit outlining a transfer pricing
See More
OECD: Consultation Document on Transfer Pricing for Minerals
On 10 May 2023 the OECD published a consultation document with the title Determining the price of minerals: A Transfer Pricing Framework. This is a draft toolkit to support developing countries in combating base erosion and profit shifting relating
See More
OECD: Progress Report to G7 Finance Ministers on Tax Cooperation
On 11 May 2023 the OECD published a progress report on tax cooperation for the G7 Finance Ministers and central bank governors. A report on these issues had been produced in 2022 and the G7 Finance Ministers asked the OECD to continue its work on
See More