OECD urges Malaysia to reintroduce GST to meet deficit target
According to a recent report published in the OECD Economic Surveys on Malaysia for 2024 on 27 August 2024, the OECD recommended Malaysia reinstate the goods and services tax (GST) at a low rate, coupled with targeted social transfers for vulnerable
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OECD publishes reference guide on tax authority organisation
The OECD announced the publication of a reference guide to enhance national tax system administration yesterday, 29 August 2024. This reference guide presents the critical features to be considered in designing the organisational arrangements for
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OECD reports advances on harmful tax practices in Armenia, Bulgaria, Croatia, Eswatini, and Hong Kong
The OECD released an announcement on 27 August 2024 highlighting that jurisdictions have made further progress in addressing harmful tax practices through the implementation of the international standard under BEPS Action 5. This is evidenced by
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OECD publishes public comments on GloBE Pillar Two information return XML schema, schema user guide
The OECD announced the release of feedback received in response to its 10 July 2024 public consultation concerning a draft XML schema and schema user guide, explaining the submission and exchange of standardised Pillar Two global minimum tax "GloBE
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OECD: Transfer Pricing Framework for Lithium
On 12 August 2024 the OECD released the final report on the transfer pricing framework for lithium. The report applies the mineral pricing framework previously outlined in the OECD/IGF report on Determining the Price of Minerals: A Transfer Pricing
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OECD releases framework for transfer pricing of lithium
The OECD published a toolkit designed to assist developing countries in tackling transfer pricing challenges associated with lithium pricing. This initiative is part of the ongoing collaboration between the OECD and the Intergovernmental Forum on
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OECD: Global Forum Report to the G20 Finance Ministers
A report was prepared by the Global Forum for the meeting of G20 Finance Ministers and Central Bank Governors on 25 and 26 July 2024. This report reflects the Forum’s commitment to fighting tax evasion and illicit financial flows by measures
See MoreG20: Communique of the Meeting of Finance Ministers
Following the meeting of the G20 Finance Ministers and Central Bank Governors on July 25 and 26 2024, a communique was issued. Global Economic Outlook The Ministers welcomed the likely soft landing of the global economy. They are continuing to
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OECD publishes Secretary General’s report to G20
The Secretary General of OECD, on 24 July 2024, released its report titled, ‘OECD Secretary-General Tax Report to G20 Finance Ministers and Central Bank Governors’. It was published on 25 July, 2024, ahead of their third meeting which was held
See MoreG20: Ministerial Declaration on International Tax Cooperation
At the close of the meeting of G20 Finance Ministers and Central Bank Governors held from 25 to 26 July 2024 a Ministerial declaration was issued on international tax cooperation. The declaration noted that the OECD/G20 Inclusive Framework on
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G20: Future of Pillar One hangs in the balance at Rio de Janeiro
Negotiations regarding the future of OECD Pillar One Amount A are taking place at this week's G20 finance leaders meeting in Rio de Janeiro, discussions have now extended beyond the 30 June, 2024, deadline. This latest round of talks are aimed to
See MoreOECD: Report to the July Meeting of G20 Finance Ministers
On 25 July 2024 the OECD published the report prepared for the meeting of G20 Finance Ministers and Central Bank Governors held in Brazil from 25 to 26 July 2024. The report notes some recent developments in important areas of international tax
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OECD: 2024 global corporate tax rates stabilise after years of decline
The OECD has announced, on 11 July 2024, the release of its latest Corporate Tax Statistics. This publication reveals that statutory corporate tax rates are stabilising globally after a lengthy period of declining rates. The 2024 edition of OECD
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OECD seeks feedback on the GloBE Information Return XML Schema guide
The OECD has initiated a public consultation on the Draft User Guide for the GloBE Information Return XML Schema. The Global Anti-Base Erosion (GloBE) Model Rules require the annual filing of a GloBE Information Return (GIR) that provides
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Thailand opens accession discussions with OECD
The OECD announced that it started accession discussions with Thailand on 18 June, 2024, making it the second country from Southeast Asia to become an OECD accession candidate this year. The decision builds on many years of increasing cooperation
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OECD: Asian tax transparency adds over EUR 21 bln in revenue
The Global Forum published its 2024 Tax Transparency in Asia report on Monday, 24 June 2024, which analyses the impact of the "Asia Initiative" on regional tax collection. According to this report, at least EUR 21.8 billion in additional revenue
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OECD: Asia-pacific tax revenues rebound to pre-pandemic levels in 2024
The OECD announced that it published the Revenue Statistics in Asia and the Pacific 2024 on 25 July 2024. The report states that tax revenues in Asia and the Pacific returned to their levels prior to the COVID-19 pandemic in 2022 amid a rebound in
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OECD working paper: problems arising from subnational debt
An OECD working paper published on 13 June 2024, written by Acauã Brochado and Sean Dougherty, looks at problems of financing for subnational governments (SNGs), including the level of debt and sensitivity to interest rate fluctuations. The paper
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