OECD: Safe Harbours and Penalty Relief under Pillar Two
Following the publication of the GloBE model rules there were concerns about the complexity of some of the adjustments to income and taxes required under rules, which could place an unnecessarily large compliance burden on some multinationals. There
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OECD: Consultation on Design Elements of Amount B of Pillar One
On 8 December 2022 the OECD issued a consultation document and invited public comments on the main design elements of Amount B under Pillar One of the two-pillar approach to international tax. Comments were invited by 25 January 2023. Amount B
See MorePlatform for Collaboration on Tax – Progress Report 2022
On 9 December 2022 the Platform for Collaboration on Tax (PCT) issued its Progress Report 2022. The PCT was set up for collaboration between the IMF, OECD, UN and the World Bank and supports countries in strengthening their tax systems by publishing
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OECD: Consumption tax trends 2022
On 30 November 2022 the OECD released Consumption Tax Trends 2022, an annual publication setting out comparative data on consumption taxes and trends in consumption tax policy in OECD countries. The data indicate that as e-commerce increases the
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OECD: Revenue Statistics 2022
On 30 November 2022 the OECD published Revenue Statistics 2022. The publication sets out the statistics of tax revenue for 2021 which indicate that tax revenues were recovering after the crisis caused by the pandemic. The publication classifies
See MoreGlobal Forum Plenary Meeting
On 9 to 11 November 2022 the Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) held its 15th Plenary Meeting. The main theme of the discussions was to bring transparency and exchange of information to the
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OECD: Tax Certainty Day
On 22 November 2022 which was designated as Tax Certainty Day the OECD’s Forum on Tax Administration (FTA) held a virtual meeting to discuss issues around tax certainty. Tax officials and stakeholders participated in a virtual meeting to review
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OECD: Mutual Agreement Procedure Statistics for 2021
On 22 November 2022 the OECD published the mutual agreement procedure (MAP) statistics for 2021. The report covers 127 jurisdictions and is a part of the work on the minimum standard on BEPS action 14 (improving dispute resolution mechanisms). The
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OECD: Revenue Statistics in Africa
On 14 November 2022 the OECD published Revenue Statistics in Africa 2022. The annual publication is produced by the OECD jointly with the African Tax Administration Forum (ATAF) and the African Union Commission (AUC). Technical assistance is given
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OECD: Comments Received on Administration and Tax Certainty Aspects of Amount A of Pillar One
On 16 November 2022 the OECD published the comments received on the Progress Report on the Administration and Tax Certainty Aspects of Amount A of Pillar One. Comments were received from more than 30 organisations and individuals in business,
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South Africa: Peer Review on Transparency and Exchange of Information
The second-round peer review report on South Africa’s implementation of standards on the exchange of information on request was published by the OECD’s Global Forum on 9 November 2022. The report notes that South Africa is largely compliant with
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OECD: Peer Review Report on the Automatic Exchange of Financial Account Information
On 9 November 2022 the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes published a peer review report on the automatic exchange of financial account information. The Global Forum monitors and reviews the
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Israel: Peer Review on Transparency and Exchange of Information
The second stage, phase one peer review report on Israel’s implementation of standards on the exchange of information on request was published by the OECD on 9 November 2022. The first review noted that although a regulatory framework was in
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OECD: Pricing Greenhouse Gas Emissions
On 3 November 2022 the OECD released Pricing Greenhouse Gas Emissions: Turning Climate Targets into Climate Action looking at the development of explicit carbon prices, energy taxes, and subsidies that lower pre-tax energy prices, in the years 2018
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OECD: Secretary-General Tax Report to G20 Finance Ministers and Central Bank Governors
The OECD Secretary-General’s Tax Report to the G20 Finance Ministers and Central Bank Governors released in October 2022 outlined recent developments in international taxation. Two-pillar approach Ahead of its Plenary meeting on 6-7 October
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OECD: Updates to the Guidance on Country by Country Reporting
In October 2022 the OECD published some updates to the Guidance on the Implementation of Country-by-Country Reporting under Action 13 of the action plan on base erosion and profit shifting (BEPS). Additional sections of guidance were added in
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OECD: Consultation on Administration and Certainty Aspects of Amount A of Pillar One
On 6 October 2022 the OECD published for public consultation a document with the title Progress Report on the Administration and Tax Certainty Aspects of Pillar One. Comments are invited from interested parties by 11 November 2022. Administration
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OECD: Inclusive Framework Progress Report
On 4 October 2022 the OECD released a document with the title OECD/G20 Inclusive Framework on BEPS: Progress Report September 2021-September 2022. The progress report summarises developments in the work of the Inclusive Framework on base erosion and
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