OECD: VAT Digital Toolkit for Africa
On 15 February 2023 the OECD published the VAT Digital Toolkit for Africa. In most African countries value added tax (VAT) is a major revenue source that brings in more than one quarter of total tax revenues on average. In 2020, VAT revenues in
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OECD Tax Talk Outlines Latest Developments
On 27 February 2023 the OECD gave an update of recent developments in their tax work. G20 Chair’s summary The G20 Chair’s summary following the meeting of G20 finance ministers and central bank governors confirmed that the G20 remains
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OECD Report to the February 2023 Meeting of G20 Finance Ministers
On 24 February 2023 the OECD published its report to the February 2023 meeting of the G20 Finance Ministers and Central Bank Governors. Inclusive Framework The report notes that the OECD/G20 Inclusive Framework on BEPS (Inclusive Framework)
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OECD: Technical Guidance for Implementation of the Global Minimum Tax
On 2 February 2023 the Inclusive Framework released technical guidance on implementation by governments of the global minimum tax. The Agreed Administrative Guidance for the Pillar Two GloBE Rules aims to ensure co-ordinated outcomes and greater tax
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OECD: Manual on Multilateral Mutual Agreement Procedures and APAs
On 1 February 2023 the OECD released the Manual on the Handling of Multilateral Mutual Agreement Procedures (MAPs) and Advance Pricing Arrangements (APAs) (the MoMA). Multilateral MAPs and APAs can offer greater tax certainty to both taxpayers
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OECD: Public comments received on the design elements of Amount B under Pillar One
On 30 January 2023 the OECD published the comments received on the design elements of Amount B under Pillar One relating to the simplification of transfer pricing rules. Comments were received from more than sixty businesses, institutes, NGOs and
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OECD: Comments received on Draft MLC under Amount A of Pillar One
On 24 January 2023 the OECD published the responses received to the public consultation on the Draft Multilateral Convention (MLC) Provisions on Digital Services Taxes (DSTs) and other Relevant Similar Measures under Amount A of Pillar One. The
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OECD: Revised Methodology for the BEPS Action 14 Peer Reviews
On 24 January 2023 the OECD’s Inclusive Framework on base erosion and profit shifting (BEPS) agreed a new assessment methodology for continuing the peer review process under BEPS action 14 to improve tax dispute resolution mechanisms. The
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OECD: Revenue Impact of International Tax Reform
During a live webinar on 18 January 2023 the OECD presented the findings of a new analysis of the estimated impact on tax revenue of the implementation of the two-pillar international tax reform. The new analysis carried out by the OECD indicates
See MoreIASB: Proposed Amendments to IAS 12 Arising from Pillar Two Rules
In January 2023 the International Accounting Standards Board (IASB) issued an Exposure Draft with proposed amendments to IAS 12 (Income Taxes). The amendments relate to tax and accounting implications of the implementation of the global minimum
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OECD: Tax certainty for Pillar Two rules
On 20 December 2022 the OECD issued a consultation document on providing tax certainty under the Pillar Two GloBE rules. Comments are invited from interested parties by 3 February 2023. The GloBE rules are to be enacted by each jurisdiction into
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OECD: Consultation on GloBE Information Return
On 20 December 2022 the OECD’s Inclusive Framework issued the consultation document Pillar Two – GloBE Information Return, setting out proposals on the information return to be completed by multinationals in relation to the global minimum tax.
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OECD: Draft Multilateral Convention Provisions on Digital Services Taxes under Amount A
On 20 December 2022 the OECD issued for public consultation draft provisions on digital services taxes that would be included in a multilateral convention (MLC) in relation to Pillar One of the two-pillar approach to international taxation. The
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OECD: Safe Harbours and Penalty Relief under Pillar Two
Following the publication of the GloBE model rules there were concerns about the complexity of some of the adjustments to income and taxes required under rules, which could place an unnecessarily large compliance burden on some multinationals. There
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OECD: Consultation on Design Elements of Amount B of Pillar One
On 8 December 2022 the OECD issued a consultation document and invited public comments on the main design elements of Amount B under Pillar One of the two-pillar approach to international tax. Comments were invited by 25 January 2023. Amount B
See MorePlatform for Collaboration on Tax – Progress Report 2022
On 9 December 2022 the Platform for Collaboration on Tax (PCT) issued its Progress Report 2022. 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 publishing
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OECD: Consumption tax trends 2022
On 30 November 2022 the OECD released Consumption Tax Trends 2022, an annual publication setting out comparative data on consumption taxes and trends in consumption tax policy in OECD countries. The data indicate that as e-commerce increases the
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OECD: Revenue Statistics 2022
On 30 November 2022 the OECD published Revenue Statistics 2022. The publication sets out the statistics of tax revenue for 2021 which indicate that tax revenues were recovering after the crisis caused by the pandemic. The publication classifies
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