OECD Secretary-General Tax Report to G20 Finance Ministers and Central Bank Governors
On 14 February 2020, the OECD Secretary-General Tax Report to G20 Finance Ministers and Central Bank Governors was released. From the overview in the report: “Over the past 10 years, the G20 has supported multilateral co-operation for a globally fair, sustainable and modern international tax system, which translated into successful deliverables. Thanks to this momentum, significant progress has taken place to combat tax evasion, Base Erosion and Profit Shifting (BEPS), ...
OECD presents analysis showing significant impact of proposed international tax reforms
New economic analysis shows that a proposed solution to the tax challenges arising from the digitalisation of the economy under negotiation at the OECD would have a significant positive impact on global tax revenues. This was announced in a press release published on the website of the OECD in relation to the release of the analysis. From the press release: The analysis puts the combined effect of the two-pillar solution under ...
OECD releases Transfer Pricing Guidance on Financial Transactions
On 11 February 2020, the OECD released the report Transfer Pricing Guidance on Financial Transactions: Inclusive Framework on BEPS: Actions 4, 8-10. This was announced in a press release published on the website of the OECD. In October 2015, as part of the final BEPS package, the OECD/G20 published the reports on Action 4 (Limiting Base Erosion Involving Interest Deductions And Other Financial Payments) and Actions 8-10 (Aligning Transfer Pricing Outcomes with ...
Uruguay deposits its instrument of ratification for the Multilateral BEPS Convention
On 6 February 2020, Uruguay deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Multilateral Convention or MLI) with the OECD's Secretary-General, Angel Gurría, thus underlining its strong commitment to prevent the abuse of tax treaties and base erosion and profit shifting (BEPS) by multinational enterprises. For Uruguay, the MLI will enter into force on 1 June ...
OECD releases consultation document on the review of Country-by-Country Reporting and invites public input (BEPS Action 13)
As part of the ongoing work of the OECD/G20 Inclusive Framework on BEPS (Inclusive Framework), the OECD invites public comments on the Review of the BEPS Action 13 minimum standard. This was announced in a press release published on the website of the OECD. From the press release: Background Action 13 of the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project (BEPS Action 13) established a three-tiered standardised approach to ...
OECD invites taxpayer input on tenth batch of dispute resolution peer reviews. Tenth batch includes the stage 1 peer review of Aruba
The OECD is now gathering input for the tenth batch of Stage 1 dispute resolution peer reviews, according to a press release on the website of the OECD. This tenth batch includes the peer review of Aruba. From the press release: 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 ...
OECD secretariat invites public input on the Global Anti-Base Erosion (GloBE) Proposal under Pillar Two
As part of the ongoing work of the OECD/G20 Inclusive Framework on BEPS, the OECD secretariat is seeking public comments on certain aspects of the Global Anti-Base Erosion (GloBE) Proposal under Pillar Two. This was announced in a press release published on the website of the OECD. From the press release: The consultation document (available soon in French) focuses on specific technical issues in respect of the GloBE proposal where input ...
OECD releases further guidance for tax administrations and MNE Groups on CbC-reporting
The OECD/G20 Inclusive Framework on BEPS has released additional interpretative guidance to give greater certainty to tax administrations and MNE Groups on the implementation and operation of Country-by-Country (CbC) Reporting (BEPS Action 13). This was announced in a press release on the website of the OECD. From the press release: The new guidance includes questions and answers on, amongst other topics, the treatment of dividends received, the operation of local ...
OECD releases guidance on the spontaneous exchange by no or only nominal tax jurisdictions
As part of BEPS Action 5 to curb harmful tax practices, jurisdictions may only maintain preferential regimes if certain "substantial activities" requirements are met. In order to ensure a level playing field, these requirements must also apply to jurisdictions with zero or only nominal tax rates. As a result, the Inclusive Framework on BEPS decided in November 2018 to resume the application of the substantial activities requirement for no or ...
Public consultation meeting on the Secretariat Proposal for a “Unified Approach” under Pillar One
As part of the ongoing work of the OECD/G20 Inclusive Framework on BEPS, the OECD is seeking public comments on a Secretariat Proposal for a "Unified Approach" under Pillar One. This public consultation meeting will focus on the key questions identified in the consultation document and issues raised in the written submissions received as part of the consultation process, as was announced in a press release on the website of the OECD. For ...
OECD Secretary-General report to G20 Finance Ministers and Central Bank Governors
On 8 June 2019, the OECD released the 2019 OECD Secretary-General Report to G20 Finance Ministers and Central Bank Governors. The report contains a brief overview provided by the Secretary-General (see hereafter) as well as tables and overviews regarding the status of various actions. Aruba Aruba is being welcomed as one of the 13 new members of the OECD/G20 Inclusive Framework on BEPS, since the last report of the Secretary-General ...
OECD releases fourth round of BEPS Action 14 peer review reports on improving tax dispute resolution mechanisms
The work on BEPS Action 14 continues with yesterday’s publication of the fourth round of stage 1 peer review reports, as announced in a press release published on the website of the OECD on 30 August 2018. Each report assesses a country’s efforts to implement the Action 14 minimum standard as agreed to under the OECD/G20 BEPS Project. The reports of Australia, Ireland, Israel, Japan, Malta, Mexico, New Zealand and Portugal published today contain over 130 targeted recommendations that will ...
