OECD: Report on Simplified Peer Review of Peru under BEPS Action 14
On 4 March 2025 the OECD issued a stage one simplified peer review report on Peru under BEPS action 14. The report sets out the results of Stage 1 of the simplified peer review of the implementation of the minimum standard on making dispute
See MoreWTO Working Paper: Evolution of Preferential Trade Under Regional Trade Agreements
A WTO working paper of 7 February 2025, written by Rohini Acharya and Thakur Parajuli has the title The Evolution of Preferential Trade Under Regional Trade Agreements: Has Anything Changed? The paper looks at the question of whether the share of
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World Bank: Survey of Corporate Tax Incentives for Green Growth
A World Bank blog published on 13 February 2025, written by Hania Kronfol, Eduardo Antonio and Jimenez Sandoval, assesses the use of corporate tax incentives to encourage environmentally friendly investment. The blog refers to a World Bank
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IMF: Revenue and Spending Measures for Developing Countries to Reduce Debt Levels
An IMF Public Finance Management (PFM) Blog, written by Talal Rafi (a Director at EY Sri Lanka) and published on 27 January 2025, looked at the measures developing countries can take to reduce public debt levels. The author notes that more than 3
See MoreIMF Report Makes Tax Policy Recommendations for Japan
On 7 February 2025 the IMF published a report following discussions with Japan under Article IV of the IMF’s articles of agreement. The report notes that Japan’s economy contracted in the first half of 2024 as a result of temporary supply
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Australia: Senate report on bill to amend luxury car tax and deny interest deductions on tax debts
Australia’s Senate Economics Legislation Committee has published its report on the Treasury Laws Amendment (Tax Incentives and Integrity) Bill 2024. This follows after the Senate referred the provisions of the Treasury Laws Amendment (Tax
See MoreWTO Working Paper: Continuing Significance of MFN Trading Terms
A WTO working paper of 15 January 2025, written by Tomasz Gonciarz and Thomas Verbeet, has the title Significance of most-favoured-nation terms in global trade: A comprehensive analysis. Under the WTO's MFN trading principle, member countries of
See MoreIMF Working Paper: Is Tax Policy Supporting a Costly Industrial Policy in Mozambique
An IMF working paper written by Santos Bila, Utkarsh Kumar and Alexis Meyer-Cirkel with the title Is Tax Policy Costly Industrial Policy in Mozambique? Finds that tax advantages do not compensate for shortcomings in economic conditions. The
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IMF Working Paper: Strengthening Tax Governance Through Legal Design
An IMF working paper of 17 January 2025 written by L. Sofrona, C. Waerzeggers and B. Crowley with the title Strengthening Tax Governance Through Legal Design looks at tax governance in tax administration and how this can be strengthened. The
See MoreWorld Bank: Global Economic Prospects
The World Bank report Global Economic Prospects was issued in January 2025. The report notes that global growth is projected to remain steady at 2.7% in 2025/26, but this relatively low growth rate will not be sufficient to promote sustained
See MoreIMF: Briefing on the World Economic Outlook
In the briefing on the latest World Economic Outlook on 17 January 2024, the Director of the IMF’s Research Department confirmed that global growth is projected to remain steady at 3.3% in 2025 and 2026. Globally, inflation is expected to decline
See MoreIMF Updates World Economic Outlook
On 17 January 2025 the IMF published the update to the World Economic Outlook, with the subtitle Global Growth: Divergent and Uncertain. The update notes that global growth is expected to remain stable at 3.3% in both 2025 and 2026, below the
See MoreIMF Report looks at Australia’s Economic Position
On 23 December 2024 the IMF staff issued a report following consultations with Australia under Article IV of the IMF’s articles of agreement. Economic growth is projected increase gradually, from 1.2% in 2024 to 2.1% in 2025. Real income growth
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Poland sets base and margin rates for transfer pricing
Poland has published Notice No. 1105 in the Official Gazette on 21 December 2024, setting the base interest rates and margin interest rates for transfer pricing in individual and corporate income taxes. The regulation establishes base interest
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Italy announces penalty relief rules for hybrid mismatch rules
Italy's Ministry of Economy and Finance has published the Decree of 6 December 2024 outlining the penalty reliefs rules for violations of Italy's hybrid mismatch rules. The Decree’s penalty relief rules are taken from Legislative Decree No. 209
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India extends transfer pricing safe harbor rules to FY 2024-25, updates filing deadline for international transactions
India's Central Board of Direct Taxes (CBDT) has released Notification No. 124/2024 outlining the Income Tax (Tenth Amendment) Rules, 2024 on 29 November 2024. According to the amendment, the transfer pricing safe harbor rules under Rule 10TD of
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US: IRS and Treasury Plan to Issue Guidance on Streamlined Approach to Baseline Distribution Activities
In the IRS and Treasury Priority Guidance Plan for 2024/25, issued on 3 October 2024, there is a plan for a new section 482 guidance project to provide guidance for taxpayers consistent with Amount B of Pillar One. The OECD Amount B Guidance
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CJEU: Netherlands interest deduction limit on acquisition financing upholds freedom of establishment
The Court of Justice of the European Union (CJEU) issued a judgement on 4 October 2024 regarding Dutch interest deduction limits and freedom of establishment (Article 49 TFEU), based on a request from the Netherlands' Supreme Court. The Supreme
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