OECD

OECD claims major progress reported towards a fairer and more effective international tax system

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Source: OECD Press release 5 Just 2017

The latest Report from OECD Secretary-General Angel Gurría to G20 Leaders  describes the continuing fight against tax avoidance and tax evasion as one of the major success stories of the G20, founded on enhanced international co-operation.

The report, released 5th July 2017, updates progress in key areas of OECD-G20 tax work, including movement towards automatic exchange of information between tax authorities and implementation of key measures to address tax avoidance by multinationals.

“Tax issues have been a key priority of the G20 since its inception, and 2017 is the year of implementation,” Mr Gurría said. “In the midst of the backlash against globalisation, we need to deliver on an agenda of inclusive growth. The work of the G20 and the OECD to repair and improve the international tax system so everyone pays their fair share remains one of the most important responses to these challenges, as well as one which is having a concrete impact.”

Source press release here

 

Public Discussion Draft – BEPS ACTION 10 – Revised Guidance on Profit Splits

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DRAFT REVISED GUIDANCE ON THE TRANSACTIONAL PROFIT SPLIT METHOD (TO REPLACE PART III SECTION C OF CHAPTER II OF THE 2010 TRANSFER PRICING GUIDELINES)

Source: OECD Discussion Draft, 22 June 2017. Deadline for responses – 15 September 2017

Public comments are invited on this discussion draft which deals with the clarification and strengthening of the guidance on the transactional profit split method, as set out in the BEPS Actions 8-10, 2015 Final Report.

This draft sets out the text of proposed revised guidance on the application of the transactional profit split method, together with a number of questions, listed below. Read the rest of this entry »

“Tax officials crafting plan to jointly identify large multinationals with low risk of tax avoidance”

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Source: mnetax.com 7th June 2107

“Eight countries are working on a new program to jointly review large multinationals’ tax affairs and, if appropriate, provide assurances to the multinational that it will not likely be audited in those jurisdictions with respect to specific tax risks, officials said June 6 in Washington at a conference sponsored by the OECD, USCIB, and BIAC.

The program, which will be piloted by Italy, US, UK, Spain, Austria, Germany, Netherlands, and Canada, could eventually be offered by all 47 countries participating in the Forum on Tax Administration, namely, all OECD and G20 countries plus a few others.”

Source article here

 

The Approach to Hard-to-Value Intangibles: OECD Discussion Draft released.

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On May 23 2017 the OECD released a public discussion draft on the implementation guidance on Hard-to-Value Intangibles (HTVI).

This discussion draft presents the principles that should underlie the implementation of the HTVI approach, provides examples illustrating the application of this approach and addresses the interaction between the approach to HTVI and the mutual agreement procedure. Read the rest of this entry »