Tax revenues in Latin America and the Caribbean rose modestly before being hit hard by the COVID-19 crisis

Tax revenues rose moderately across Latin America and the Caribbean (LAC) in 2019 before declining sharply in 2020 as the COVID-19 pandemic drove down global economic activity, according to new analysis released today in the tax policy publication “Revenue Statistics in Latin America and the Caribbean” on the occasion of XXXIII edition of the Regional Fiscal Policy Seminar hosted virtually by the United Nations’ Economic Commission for Latin America and the Caribbean (UN-ECLAC) ...
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Tenth edition of the tax policy publication Revenue Statistics in Latin America and the Caribbean launched

On Thursday 22 April 2021, the tenth edition of the tax policy publication “Revenue Statistics in Latin America and the Caribbean” has been launched on the occasion of XXXIII edition of the Regional Fiscal Policy Seminar hosted virtually by the United Nations’ Economic Commission for Latin America and the Caribbean (UN-ECLAC) and partners. The launch event is organised in collaboration with the co-authors of the publication: UN-ECLAC, the Inter-American Center of Tax Administrations ...
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Digital platforms have an important role to play in value added tax policy in the sharing and gig economy

Digital platforms can play an important role in the application of Value Added Taxes/Goods and Services Taxes (VAT/GST) policies in the sharing and gig economy, according to a new OECD report “The Impact of the Growth of the Sharing and Gig Economy on VAT/GST Policy and Administration”. This has been announced with a press release on the website of the OECD on the occasion of the release of the report ...
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Tax transparency moves forward as twelve no or only nominal tax jurisdictions began their first exchange information on the substance of entities

On Wednesday 31 March 2021, twelve no or only nominal tax jurisdictions began their first tax information exchanges under the Forum on Harmful Tax Practice’s (FHTP) global standard on substantial activities. The standard ensures that mobile business income can no longer be parked in a low tax jurisdiction without the core business functions being carried out from that jurisdiction and that the countries where the parent entities and beneficial owners ...
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New OECD self-assessment tool to help jurisdictions tackle tax crimes

A new diagnostic tool will allow jurisdictions to self-assess their capabilities across a range of legal, strategic and operational areas to support their efforts to tackling tax crime effectively. The Tax Crime Investigation Maturity Model sets out descriptions of capabilities and performance for tax crime investigation, allowing governments to identify where they are situated in relation to good practice across a number of levels of increasing maturity: Emerging, Progressing, Established, Aspirational. This ...
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Latin America and the Caribbean: Tax revenue gains under threat amid deteriorating regional outlook

Tax revenues in Latin America and the Caribbean (LAC) increased to 23.1% of GDP on average in 2018, according to the new edition of Revenue Statistics in Latin America in the Caribbean published yesterday. However, these gains are now under threat as a result of the region’s deteriorating fiscal outlook, which has been exacerbated by the COVID-19 pandemic and the global economic crisis. The release was announced in a press release on ...
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Use of digital technologies set to increase tax compliance

The eighth edition of the OECD's Tax Administration Series published ON 23 September 2019 shows how tax administrations are increasingly moving to e-administration and using a range of technology tools, data sources and analytics to increase tax compliance, according to a press release published on the website of the OECD. From the press release: Commenting on the report, Pascal Saint-Amans, Director of the OECD Centre for Tax Policy and Administration ...
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Leading global tax administrations agree collective actions on tax certainty, co-operation and digital transformation

The Forum on Tax Administration (FTA), the 53 leading global tax administrations, met in Chile on 26-28 March and agreed an ambitious agenda focused on tax certainty, enhanced tax co-operation and the collective challenges of digital transformation, according to a press release on the website of the OECD. Hans Christian Holte, Chair of the FTA and Head of the Norwegian Tax Administration said, "FTA members collectively bring in over EUR ...
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OECD and Argentina continue the fight to tackle tax crime

Twenty-eight officials participated in the inaugural “VAT/GST Fraud Investigations” course at the OECD Latin America Academy for Tax and Financial Crime Investigation last week in Buenos Aires. This was announced in a press release published on the website of the OECD. From the press release: The Academy was launched earlier this year as part of Argentina’s G20 presidency by Argentina’s Minister of Treasury Nicolás Dujovne and the OECD Secretary General ...
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Tax reforms accelerating with push to lower corporate tax rates

Countries have used recent tax reforms to lower taxes on businesses and individuals, with a view to boosting investment, consumption and labour market participation, continuing a trend that started a couple of years ago, according to a new report from the OECD. This has been expressed by the OECD in a press release on its website covering the release on 5 September 2018 of the report "Tax Policy Reforms 2018; ...
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OECD and IGF invite comments on a draft toolkit that will help developing countries to identify and cost potential behavioural responses by mining investors to tax incentives

In a press release published on the website of the OECD, the OECD and the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) invite comments on a draft toolkit that will help developing countries to identify and cost potential behavioural responses by mining investors to tax incentives. This draft toolkit has been prepared by the IGF under a programme of co-operation with the OECD, to help governments anticipate ...
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OECD peer reviews on BEPS Action 13 Country-by-Country reporting initiative show strong progress for global roll-out in June

The OECD has released the first peer reviews of the Country-by-Country (CbC) reporting initiative, demonstrating strong progress toward the imminent implementation of a key element in continuing efforts to improve taxation of multinational enterprises (MNEs) worldwide, according to a press release published on the website of the OECD on 24 May 2018. The peer reviews show that practically all countries that serve as headquarters to the large MNEs covered by the ...
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OECD peer review on BEPS Action 13 Country-by-Country reporting re Curaçao

The OECD has released the first peer reviews of the Country-by-Country (CbC) reporting initiative, demonstrating strong progress toward the imminent implementation of a key element in continuing efforts to improve taxation of multinational enterprises (MNEs) worldwide, according to a press release published on the website of the OECD on 24 May 2018. The peer reviews show that practically all countries that serve as headquarters to the large MNEs covered by the ...
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OECD and IGF invite comments on a draft practice note that will help developing countries address profit shifting from their mining sectors via excessive interest deductions

For many resource-rich developing countries, mineral resources present an unparalleled 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. One of the avenues for international profit shifting by multinational enterprises is the use of excessive interest deductions, according to the OECD in a press release of 18 April 2018 with the ...
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Better design of taxes on personal savings and wealth is needed to support inclusive growth

The taxation of personal savings and wealth varies widely, offering governments significant scope for tax reforms that simultaneously improve both the efficiency and fairness of their tax systems, according to two new OECD reports as the OECD announced on 12 April 2018 in a press release. The reports – Taxation of Household Savings and The Role and Design of Net Wealth Taxes - recognise that taxes are among the most effective tools governments have ...
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