OECD To Engage Industry in BEPS Consultations
The Organization for Economic Cooperation and Development (OECD) has recently published a revised timetable for public consultations on Base Erosion and Profit Shifting (BEPS) and the release of Discussion Drafts. Three Discussion Drafts will be
See MoreNew Zealand: Convention on tax assistance enters into force
From 1st March 2014, the multilateral Convention on Mutual Administrative Assistance in Tax Matters will become effective for New Zealand. The Convention, which New Zealand ratified in November, will greatly enhance the country’s ability to combat
See MoreOECD issues the single global standard for the automatic exchange of information
On February 13, 2014 the OECD released the Common Reporting Standard (CRS), which seeks to establish automatic exchange of tax information as the new global standard for governments. The approach is at the heart of the fight against tax evasion, but
See MoreOECD – Revised timeline for BEPS discussion drafts and public consultations
The Organization for Economic Cooperation and Development (OECD) has released a revised timeline for action relating to base erosion and profit shifting (BEPS) discussion drafts and public consultations. The first outputs under the BEPS project are
See MoreOECD – New Global Standard for Information Exchange supported by Jersey
The Chief Executive of Jersey Finance has expressed support for the Organization for Economic Co-operation and Development's (OECD) new single global standard for the automatic exchange of information between tax authorities worldwide. Jersey has
See MoreOECD releases paper on transfer pricing documentation
On 30 January 2014, as part of the action plan on base erosion and profit shifting, the OECD published a discussion draft on transfer pricing documentation. This discussion draft takes the form of a revised Chapter V of the OECD Transfer Pricing
See MoreOECD: BEPS-related transfer pricing documentation, country-by-country reporting draft guidance
On 31 January 2014 the Organization for Economic Co-operation and Development (OECD) released an initial draft of revised guidance on transfer pricing documentation and country-by-country reporting. This is related to Action 13 under the Base
See MoreCroatia-Bill Ratifying Multilateral Tax Convention
The government of Croatia has sent a bill to parliament to ratify the Convention on Mutual Administrative Assistance in Tax Matters. This move forms part of the country's aims to fulfill its tax obligations on an international level. Croatia signed
See MoreOECD Reports Higher Consumption Taxes for Latin America
The Organization for Economic Cooperation and Development (OECD) has released the latest version of its Revenue Statistics in Latin America. This report shows that the average tax revenue to gross domestic product (GDP) ratio in the 18 Latin
See MoreOECD: comments published on artificial avoidance of PE
The OECD has published on its website the comments received following a request made in October 2013 on strategies that could result in the artificial avoidance of permanent establishment status. The request is part of the OECD’s work for the G20
See MoreOECD: Comments published on digital economy taxation issues
The OECD has published on its website the comments received following a request made on 22 December 2013 on tax issues arising from the digital economy. Comments have been made from a wide range of accounting and law firms, and also by
See MoreHungary Signs OECD Multilateral Tax Assistance Treaty
Hungary has become the 61st jurisdiction to sign the Organization for Economic Cooperation and Development’s multilateral treaty on multilateral tax assistance. This can be considered as a step of Hungary to its fight against cross-border tax
See MoreOECD publishes paper on tax crime in the fishing sector
A report prepared by the OECD Task Force on Tax Crimes and Other Crimes entitled “Evading the net: tax crime in the fisheries sector” has been published by the OECD. The report points out that the fisheries sector is a very large global industry
See MoreOECD consults on transfer pricing issues
The OECD held a public discussion on transfer pricing issues in Paris on 12 and 13 November 2013. The participants were representatives of the business world, academic institutions, non-governmental organizations, the media and the public. The
See MoreOECD publishes bribery and corruption awareness handbook for tax examiners
The published a Recommendation on cooperation between tax and other law enforcement bodies to deal with serious crimes in 2010. Under this recommendation countries were expected to ensure that effective legal frameworks were implemented to
See MoreOECD – Request for submissions on PE-status avoidance strategies (BEPS)
The organization for Economic Co-operation and Development (OECD) issued a request on 22 October 2013 for submissions of a “short description of strategies” that might be considered to result in the artificial avoidance of permanent
See MoreNew Zealand Tax Department Backs OECD BEPS Plan
New Zealand's Inland Revenue Department (IRD) has released a report that strongly endorses the measures drawn up by the Organization for Economic Cooperation and Development (OECD) for tackling base erosion and profit shifting. The OECD action plan
See MoreChile: OECD convention for Mutual tax assistance has been signed
The Organization for Economic Co-operation and Development (OECD) announced that on October 24, 2013 Chile, as the 59th country, signed the OECD's agreement for mutual administrative assistance in tax. This agreement is being considered as an
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