US: FY 2025 State and Foreign Operations Appropriations Bill defunds several international programmes
The US House Appropriations Committee released the Fiscal Year 2025 State and Foreign Operations Appropriations Bill on 3 June, 2024. It proposes terminating several programmes including funding for the Organisation for Economic Cooperation and
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OECD reports record fiscal gains for African nations
The OECD published the Tax Transparency in Africa 2024: Africa Initiative Progress Report on 3 June, 2024. The report revealed that African countries collected more fiscal revenue through tax transparency, exchange of information and related
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OECD updates guidance on implementation of CbC reporting of dividends
The Organisation for Economic Cooperation and Development (OECD) has released an updated version of its Guidance on the Implementation of Country-by-Country Reporting: BEPS Action 13. It refines the treatment of dividends in accordance with the
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OECD highlights extra revenue and tax benefits for Latin America via transparency and information exchanges
The OECD, on Thursday, 30 May, 2024, published the Tax Transparency in Latin America 2024. Published by the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum), Tax Transparency in Latin America 2024 shows how
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OECD: Governments recommit to sign First Pillar of a global tax deal by June
The OECD said, on Thursday, 30 May, 2024, that governments around the world had recommitted to introducing the first pillar of a global tax deal on highly profitable multinationals at the G20 Inclusive Framework on Base Erosion and Profit Shifting
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OECD updates guidelines on dividend treatment in CbC reporting
The OECD has issued updated guidelines on Country-by-Country (CbC) reporting, focusing on the treatment of dividends within the "profit (loss) before income tax" category. This move aims to enhance transparency and consistency in CbC reporting,
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OECD: Annual Report 2024 of Tax Inspectors Without Borders
On 29 April 2024 the Annual Report 2024 of Tax Inspectors Without Borders (TIWB) was published. This joint initiative by the OECD and the UN Development Programme (UNDP) supports developing countries with capacity building programs to improve
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OECD: Taxing Wages 2024
On 25 April 2024 the OECD released Taxing Wages 2024. The publication gives cross-country comparisons of labour costs and the overall tax and benefit position in the OECD countries. The study analyses the income tax paid by employees, the cash
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Comparative Tax Revenue Effects of Amount A and Digital Service Tax Regimes
As authors of several studies that estimate the tax revenue impact of Amount A for various countries and compare the Amount A impact with revenues from a model digital service tax (DST) regime, we observed certain patterns that hold true for various
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Pillar Two: Global minimum tax implementation status globally
In October 2021, over 135 jurisdictions joined OECD’s two-pillar solution to reform the international taxation rules and ensure that multinational enterprises pay a fair share of tax wherever they operate and generate profits. The global
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OECD: Secretary General’s Tax Report to G20 Finance Ministers
On 19 February 2024 the OECD published the Secretary General’s tax report to the G20 Finance Ministers and Central Bank Governors for their meeting of February 2024. The report covered important international tax developments since their previous
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OECD: Comments Received on Proposed Guidance on Pricing of Lithium
On 26 February 2024 the OECD published the responses received on the proposed guidance to support developing countries in addressing risks of base erosion and profit shifting in pricing lithium. Comments were received from eleven government and
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OECD: Report on the Simplified and Streamlined Approach Under Amount B
On 19 February 2024 the OECD/G20 Inclusive Framework released the report on Amount B of Pillar One, following a previous consultation. The report sets out how jurisdictions can choose to apply the simplified and streamlined approach to qualifying
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OECD releases updated BEPS MLI matching database
Recently, the OECD has released the updated version of BEPS MLI Matching Database including significant improvements that will enhance user experience and provide additional features to support the implementation and application of the BEPS MLI. One
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OECD releases ICAP statistics
On 29 January 2024 the OECD released the first aggregated statistics from the Forum on Tax Administration’s International Compliance Assurance Programme (ICAP). ICAP The ICAP is a voluntary risk assessment and assurance program whose
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OECD: Comments Received on Changes to the Commentary to Article 5
On 22 January 2024, the OECD published comments on proposed amendments to the commentary to Article 5 in relation to an alternative provision on activities in connection with the exploration and exploitation of natural resources. The additional
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OECD: Update of Estimated Revenue Gains from Pillar Two
On 9 January 2024 the OECD held a webinar to introduce the updated assessment of the projected economic impact of the global minimum tax under Pillar Two of the two pillar solution to international tax. The OECD has used improved methodology and
See MoreGloBE rules to be enforced from January 2024 despite major challenges
The OECD framework Two-Pillar Solution the global corporate minimum tax rate of 15% (Model GloBE Rules), imposed on large multinational companies with annual revenues of $790 million (€750 million) a proposal drafted by the OECD alongside G-20,
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