international taxation

Improving the tax treaty dispute resolution process is a top priority of the BEPS Project. The Mutual Agreement Procedure (MAP) peer review and monitoring process under Action 14 of the BEPS Action Plan was launched in December 2016 with the peer review process now well underway. The peer review process is conducted in two stages. Under Stage 1, implementation of the Action 14 minimum standard is evaluated for Inclusive Framework ...

The latest progress report from the Inclusive Framework on BEPS covers the assessment of 53 preferential tax regimes, demonstrating jurisdictions' continuing resolve to ensure that tax breaks are only offered to substantive activities and only if they do not pose risks of harmful competition to others. This was announced by the OECD with a press release dated 15 November 2018. The assessment process is part of ongoing implementation of Action 5 under ...

The latest progress report from the Inclusive Framework on BEPS covers the assessment of 53 preferential tax regimes, demonstrating jurisdictions' continuing resolve to ensure that tax breaks are only offered to substantive activities and only if they do not pose risks of harmful competition to others. This was announced by the OECD with a press release dated 15 November 2018. The assessment process is part of ongoing implementation of Action 5 under ...

The latest progress report from the Inclusive Framework on BEPS covers the assessment of 53 preferential tax regimes, demonstrating jurisdictions' continuing resolve to ensure that tax breaks are only offered to substantive activities and only if they do not pose risks of harmful competition to others. This was announced by the OECD with a press release dated 15 November 2018 The assessment process is part of ongoing implementation of Action 5 under ...

International efforts to curb harmful tax practices and prevent the misuse of preferential tax regimes are having a tangible impact worldwide, according to new data released today by the OECD. This was announced by the OECD with a press release dated 15 November 2018. The latest progress report from the Inclusive Framework on BEPS covers the assessment of 53 preferential tax regimes, demonstrating jurisdictions' continuing resolve to ensure that tax breaks are ...

With a press release posted on the website of the OECD, the OECD announces the 11th Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes, 20-22 November 2018, in Punta del Este, Uruguay. From the press release: Global cooperation to fight tax evasion and avoidance has grown rapidly over the past few years. Tax Transparency and Exchange of Information between tax authorities about financial assets ...

Ecuador has signed the Convention on Mutual Administrative Assistance in Tax Matters ("the Convention"). This was announced on 29 October on the website of the OECD. The Convention was signed on behalf of Ecuador by Mrs. Marisol Andrade, Director-General of the Internal Revenue Service of Ecuador, signs the Convention in the presence of the OECD Deputy Secretary-General Ludger Schuknecht. The Convention was developed jointly by the OECD and the Council of ...

On 26 October 2018 it was announced on the website of the OECD that Grenada joins the Inclusive Framework on BEPS. The item on the website of the OECD only contains a link to the updated list (October 2018) of Members of the Inclusive Framework on BEPS on which list Grenada now appears. The item on the website of the OECD does not yet contain further information on this topic ...

The OECD and the Inter-American Center of Tax Administrations (CIAT) hosted on 23 October 2018 the high-level event "Base Erosion and Profit Shifting Implementation: Strategic importance, challenges and opportunities" in Lisbon, Portugal. This was announced in a press release dated 23 October 2018. The purpose of this event was to promote a common understanding of the impact of the BEPS measures developed under the OECD/G20 BEPS Project, focusing on the pivotal ...

On 23 October 2018 it was announced on the website of the OECD that Antigua and Barbuda, Dominica and Saint Vincent and the Grenadines join the Inclusive Framwork on BEPS. The item on the website of the OECD only contains a link to the updated list (October 2018) of Members of the Inclusive Framework on BEPS on which list Antigua and Barbuda, Dominica and Saint Vincent and the Grenadines now ...

Countries must step up work to ensure that tax authorities and anti-corruption authorities can effectively co-operate in the fight against tax evasion, bribery, and other forms of corruption, according to a joint OECD/World Bank report. This was announced in a press release dated 22 October 2018 as published on the website of the OECD. Drawing on the experiences of 67 countries, this study focuses on the legal, strategic, operational, and ...

On Tuesday, 16 October 2018, the OECD issued guidance for financial institutions on how to conduct enhanced due diligence procedures under the Common Reporting Standard (CRS) in order to ensure that certain residence and citizenship by investment (RBI/CBI) schemes do not get misused by account holders for the purpose of circumventing the CRS. The schemes included in the guidance are those that pose a high risk for being misused because ...

For many resource-rich developing countries, mineral resources present a significant economic opportunity to increase government revenue. Tax base erosion and profit shifting (BEPS), combined with gaps in the capabilities of tax authorities in developing countries, threaten this prospect. The OECD’s Centre for Tax Policy and Administration and the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) are collaborating to address some of the challenges developing countries face in raising ...

Residence and citizenship by investment (CBI/RBI) schemes, often referred to as golden passports or visas, can create the potential for misuse as tools to hide assets held abroad from reporting under the OECD/G20 Common Reporting Standard (CRS), the OECD expresses in the press coverage dated 16 October 2018 following the publication of the results of its analysis of over 100 CBI/RBI schemes offered by CRS-committed jurisdictions. From the press coverage: In particular, Identity ...

On 15 October 2018, the Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) published seven peer review reports assessing compliance with the international standard on transparency and exchange of information on request (EOIR). These reports assess jurisdictions against the updated standard which incorporates beneficial ownership information of all relevant legal entities and arrangements, in line with the definition used by the Financial Action Task Force Recommendations. Two jurisdictions – Bahrain and Singapore – ...

The Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) rated Aruba overall Largely Compliant with the international standard of transparency and exchange of information on requests handled over the period from 1 July 2014 to 30 June 2017. Today (Monday 15 October 2018) the Global Forum published among others the Second Round Peer Review Report on the Exchange of Information on Request 2018 regarding Aruba, ...

On 9 October 2018 the four partner organisations to the Platform for Collaboration on Tax (PCT) discussed critical challenges and opportunities for mobilising domestic resources to meet countries' development priorities, at the upcoming IMF-World Bank annual meetings in Bali, Indonesia. This follows from a press release dated 5 October 2018 as published on the website of the OECD in which the then upcoming event was announced. The four organisations include ...

Improving the effectiveness and timeliness of dispute resolution mechanisms is the aim of Action 14 of the BEPS Action Plan (read the final report on Action 14 of the BEPS Action Plan) and is also part of the wider G20/OECD tax certainty agenda. The Action 14 minimum standard requires jurisdictions to seek to resolve mutual agreement procedure ("MAP") cases within an average timeframe of 24 months. To monitor compliance with this, ...

An innovative international co-operation initiative that deploys qualified experts in developing countries to strengthen their ability to effectively tax multinational enterprises has achieved significant milestones over the past year, according to a new annual report. This has been announced in a press release dated 4 October 2018 published on the website of the OECD. Tax Inspectors Without Borders, a joint initiative of the Organisation for Economic Co-operation and Development (OECD) and the ...

Aruba organiseerde onlangs de Post COSME-top in het Renaissance Convention Center. Zo is door de Arubaanse overheid bekend gemaakt door middel van een persbericht op de officiële website van de overheid. COSME is het EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (SMEs). Het loopt van 2014 tot 2020 met een gepland budget van €2.3bn. Uit het persbericht: “Na een dag vol presentaties door verschillende internationale experts, ...

On the website of the OECD it was announced on 27 September 2018 that Aruba joins the Inclusive Framework on BEPS. The item on the website of the OECD only contains a link to the updated list (September 2018) of Members of the Inclusive Framework on BEPS on which list Aruba now appears. The item on the website of the OECD does not yet contain further information on this topic ...

De minister van Financiën, Economische Zaken en Cultuur van Aruba reisde onlangs naar Parijs om het wereldwijde forum van de OECD over transparantie en uitwisseling van informatie voor belastingdoeleinden bij te wonen (het "Global Forum on Transparency and Exchange of Information for Tax Purposes"). Zo is bekendgemaakt in een persbericht op de officiële website van de overheid van Aruba. Het volgende uit het persbericht: "Tijdens het mondiale forum verdedigde minister ...

The OECD has released a new brochure outlining the OECD’s work on tax: “OECD Work on Taxation 2018-19”. In his preface to the brochure, the OECD’s Secretary-General Mr. Angel Gurría recalls among others that great success was achieved in tackling tax evasion through the Global Forum on Transparency and Exchange of Information for Tax Purposes (which has more than 150 members, hereafter: “the Global Forum”) and that it is estimated ...

The OECD has published new transfer pricing country profiles for Costa Rica, Greece, Republic of Korea, Panama, Seychelles, South Africa and Turkey. In addition, it has also updated the information contained in Singapore’s profile. The country profiles are now available for 52 countries. This was announced in a press release of 7 September 2018 as published on the website of the OECD. The OECD continues to publish and update the transfer pricing ...

The Platform for Collaboration on Tax – a joint initiative of the IMF, OECD, UN and World Bank Group – invites final comments on a revised version of its report on the “Taxation of Offshore Indirect Transfers of Assets”: The Taxation of Offshore Indirect Transfers: A Toolkit - Draft Version 2 (also available in French and Spanish). This was announced in a press release dated 16 July 2018 published on the website of the ...