OECD and IGF release practice notes on BEPS risks in mining
On 19 October 2018 the OECD announced that a first set of practice notes for developing countries on BEPS risks in the mining sector have been finalized. The practice notes have been developed by the OECD’s Centre for Tax Policy and
See MoreOECD: Global Forum publishes more peer review reports
On 15 October 2018 the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes published a further seven peer review reports. These reports relate to Austria, Aruba, Bahrain, Brazil, St Kitts and Nevis, Singapore and the
See MoreOECD releases 2017 global mutual agreement procedure statistics
On 10 October 2018 the OECD released the mutual agreement procedure (MAP) statistics for 2017. Under Action 14 of the action plan on base erosion and profit shifting (BEPS) recommendations were made on improving the effectiveness and timeliness of
See MoreOECD: Effective Carbon Rates 2018
On 18 September 2018 the OECD issued the publication Effective Carbon Rates 2018: Pricing Carbon Emissions through Taxes and Emissions Trading. The report presents date on taxes and tradeable permits for carbon emissions in 42 countries from the
See MoreOECD: Comments published on discussion draft on transfer pricing for financial transactions
On 18 September 2018 the OECD published comments received on its discussion draft on financial transactions in relation to BEPS actions 8 to 10 (ensuring that transfer pricing outcomes are in line with value creation). Discussion draft The
See MoreOECD: Inclusive Framework issues further guidance on CbC reporting
On 13 September 2018 the OECD’s Inclusive Framework released additional interpretative guidance in relation to Country-by-Country (CbC) reporting under Action 13 of the OECD/G20 report on base erosion and profit shifting (BEPS). More than 100
See MoreOECD: Tax Policy Reforms 2018
On 14 September 2018 the OECD issued Tax Policy Reforms 2018, summarizing the tax policy reforms carried out in the year by OECD countries and by Argentina, Indonesia and South Africa. Corporate income tax The report notes that significant tax
See MoreOECD: Tax Policy Review of Slovenia
The OECD’s Tax Policy Review for Slovenia was issued on 3 September 2018. The OECD review considers that Slovenia must rebalance the tax mix away from employee social security contributions and towards personal income tax, value added tax (VAT)
See MoreOECD: Fourth round of peer review reports on tax dispute resolution mechanisms
On 30 August 2018 the OECD released a fourth batch of peer review reports in relation to BEPS action 14 on improving tax dispute resolution mechanisms. These stage 1 reports assess the efforts made by each of the countries to implement the minimum
See MoreHong Kong signs multilateral competent authority agreement on exchange of CbC reports
Hong Kong joined the multilateral competent authority agreement on the exchange of country-by-country reports (CbC MCAA). The CbC MCAA was signed by Hong Kong on 27 July 2018. The purpose of the CbC MCAA is to set forth rules and procedures as may
See MoreUkraine signs MLI to implement tax treaty related BEPS measures
On 23rd July 2018, Ukrainian Acting Finance Minister Oksana Markarova signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting. The minister expressed that the signing of the MLI makes
See MoreG20 Finance Ministers issue communiqué
Following their meeting of 19 and 20 2018 the G20 Finance Ministers issued a communiqué covering the topics discussed. Issues affecting international tax are summarized below: Technology The communiqué notes that the benefits of technological
See MoreOECD: Academy for Tax and Financial Crime Investigation Opens New Centre
On 22 July 2018 the OECD Secretary General and the Treasury Minister of Argentina presided over the signing of a Memorandum of Understanding to set up a centre of the OECD Academy for Tax and Financial Crime Investigation. The OECD Latin America
See MoreOECD: Inclusive Framework Issues Progress Report
The OECD’s Inclusive Framework on base erosion and profit shifting (BEPS) has issued a progress report of its activities in the year to June 2018. The report indicates that significant developments have taken place in BEPS implementation during
See MoreOECD: Report on Improving Tax Certainty Prepared for G20 Finance Ministers
On 23 July 2018 the OECD released a report on approaches to improving tax certainty, prepared for the G20 Finance Ministers who met on 19 and 20 July 2018. The report focuses first on developments in the OECD and G20 countries such as the
See MoreOECD: Tax Report by the Secretary General to the G20 Finance Ministers
On 23 July 2018 the OECD released the tax report from the OECD Secretary General to the G20 Finance Ministers. The G20 Finance Ministers met on 19 and 20 July 2018. Tax Challenges Arising from Digitalisation An interim report issued in March
See MoreOECD: Global Forum issues peer reviews on tax transparency and information exchange
On 16 July 2018 the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes published peer review reports assessing the level of compliance by seven countries with the international standard on tax transparency and
See MorePlatform for Collaboration on Tax: taxation of offshore indirect transfers
On 16 July 2018 the Platform for Collaboration on Tax (PCT) published a new draft of its toolkit on the taxation of offshore indirect transfers of assets. The PCT was set up by the IMF, OECD, UN and World Bank at the request of the G20 of countries
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