OECD: Responses to Consultation on Amount B of Pillar One
On 20 September 2023 the OECD published the responses to the consultation on Amount B of Pillar One of the two-pillar approach to taxation of the digital economy. Amount B applies to baseline marketing and distribution activities, simplifying the
See MorePlatform for Collaboration on Tax: Study of Carbon Pricing Metrics
On 8 September 2023 the Platform for Collaboration on Tax (PCT) issued a report on carbon pricing metrics. 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
See MoreG20 Leaders’ Declaration
The Declaration issued by the G20 leaders at their meeting on 9 and 10 September 2023 included the following points: Global Economic Situation The Declaration noted the recent global crises that have posed challenges to long-term growth and
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OECD: Inclusive Forum on Carbon Mitigation Approaches
The Secretary General of the OECD prepared a report for the meeting of G20 leaders on 9 and 10 September 2023 updating them on the work of the Inclusive Forum on Carbon Mitigation Approaches (IFCMA). The IFCMA which was launched in February 2023
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OECD: Report to the G20 leaders meeting of September 2023
The tax report by the OECD Secretary General to the meeting of G20 leaders on 9 to 10 September 2023 outlines the latest international tax developments in international tax reform, including the work on the two-pillar international tax plan;
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OECD: Taxation of Labour vs Capital Income – Focus on Higher Earners
An OECD Tax Working Paper published on 28 August 2023 looked at the different tax treatment of labour and capital income, examining especially the position of higher earners. A number of governments tax labour and capital income in different
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ASEAN Requests a Review of the Global Minimum Tax
On 19 August 2023, at the ASEAN Economic Ministers' meeting, the Chair of the ASEAN Investment Area (AIA) Council called for a review of the global minimum tax that is being implemented under Pillar Two of the OECD two-pillar international tax
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OECD: Mitigating the Risks of Illicit Financial Flows in Oil Commodity Trading
On 8 August 2023 the OECD issued policy guidance for policymakers and practitioners on managing the problem of Illicit Financial Flows (IFFs) in oil commodity trading. The Policy Guidance on Mitigating the Risks of Illicit Financial Flows in Oil
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OECD: Responses to Consultation on Toolkits for Transfer Pricing of Minerals
On 26 July 2023 the OECD published comments received in response to the consultation on two toolkits relating to transfer pricing for minerals. The first toolkit was designed to support developing countries in managing the transfer pricing
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OECD: Enhancing International Tax Transparency on Real Estate
On 17 July 2023 the OECD published a report with the title Enhancing International Tax Transparency on Real Estate for the meeting of G20 finance ministers and central bank governors. Tax authorities do not possess sufficient information on
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OECD: Revenue Statistics in Asia and the Pacific 2023
On 25 July 2023 the OECD issued Revenue Statistics in Asia and the Pacific 2023, setting out revenue data for the region from 2021. The latest edition of the annual publication includes data on tax revenues for 30 jurisdictions in the region and
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OECD: Unleashing the Power of Automatic Exchange of Information
A report on developments by developing countries with the automatic exchange of information (AEOI) was prepared by the OECD’s Global Forum for the meeting of G20 finance ministers and central bank governors on 17 and 18 July 2023. The report with
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OECD: Facilitating the Use of Treaty Exchanged Information for Non-Tax Purposes
Sharing of treaty-exchanged information with relevant law enforcement agencies for non-tax purposes helps to combat illicit financial flows (IFFs), money laundering and corruption. Institutions often face operational challenges in implementing this
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OECD: Roadmap on Developing Countries and International Taxation
On 17 July 2023 the OECD produced a report on tax and development issues for the meeting of G20 finance ministers and central bank governors. The report looks at the participation of developing countries in the ongoing work of the Inclusive
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OECD: Subject to Tax Rule
On 17 July 2023 the OECD published details of the subject to tax rule (STTR) developed by the Inclusive Framework on BEPS as part of Pillar Two of the two-pillar proposals on international tax. The STTR gives jurisdictions the right to “tax
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OECD: Template for GloBE Information Return
On 17 July 2023 the OECD published details of the contents of the GloBE information return (GIR) under Pillar Two. The GIR is designed to collect the information needed by the tax administration to arrive at an appropriate risk assessment and to
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OECD: Outcome Statement on the Two Pillar Solution
On 11 July 2023 an Outcome Statement on the two-pillar international tax solution was approved by 138 member jurisdictions of the Inclusive Framework on base erosion and profit shifting. The Outcome Statement summarises the package of deliverables
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OECD Report to the G20 Financial Ministers and Central Bank Governors
On 17 July 2023 the OECD published the report prepared for the meeting of G20 finance ministers and central bank governors held in India on 17 and 18 July 2023. Update on the Two-Pillar International Tax Solution The report noted that on 11
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