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| NEWS |
| Financial education from A to Z |
 From Albania to Zimbabwe, over 100 countries have contributed information about their financial education programmes to the International Gateway for Financial Education. A new database structure provides improved access to all the guidance, data, resources, research and news available via this global clearinghouse.
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| The new Global Partnership for Effective Development Co-operation takes form |
On 29 June the foundations for a new inclusive development partnership were cemented when the Global Partnership for Effective Development Co-operation created its new operating structure. Supported by the OECD and the United Nations Development Programme, the Global Partnership's governance structure reflects the increasingly multi-stakeholder nature of development. The three co-chairs were chosen from, respectively, providers of development co-operation, recipients of development co-operation, and countries engaged in South-South co-operation. Two of them have so far been confirmed: Ms Ngozi Okonjo-Iweala, Minister of Finance, Nigeria, and Ms Armida Alisjahbana, Minister of State for National Development Planning, Indonesia. In addition, CSOs would like to see a 4th co-chair representing civil society. A steering committee will include, besides governments, representatives from parliamentary, civil society and private sector organisations. CSOs are also asking for a trade union representative to be added to the committee. The first ministerial-level meeting of the Global Partnership is expected to take place in early 2013.
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| Greener export credit rules approved |
| On 28 June 2012, the OECD Council adopted the Recommendation of the Council on Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence (the "Common Approaches"): this replaces the 2007 Common Approaches and contains revised provisions for addressing the potential environmental and social impacts of projects that export credit agencies support. At the same time, the new Sector Understanding on Export Credits for Climate Change Mitigation, Renewable Energies and Water Projects (the "CCSU") became effective to replace the existing Annex IV of the Arrangement on Officially Supported Export Credits: the CCSU creates a framework and incentives for the financing of large, capital intensive projects in sectors that help mitigate climate change, including renewable energies and water projects. CSOs, including Amnesty International, BIAC, ECA Watch, Equator Principles Association, European Banking Federation, Transparency International and TUAC, were consulted during the development of these two new instruments. |
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| New rules open the Codes of Liberalisation to all countries |
 On 28 June 2012, the OECD Council adopted a landmark decision on governance of the Codes of Liberalisation. Full decision-making powers have been delegated to the OECD Investment Committee, which will be enlarged to all interested countries willing and able to meet the standards of adherence; all adherents will have equal rights and obligations. The Codes are the only multilaterally-backed instruments promoting the freedom of cross-border capital movements and financial services while providing flexibility to cope with situations of economic and financial instability. For 50 years adhering countries have used the Codes to support reform, to co-operate to reap the full benefit of open markets and to avoid unnecessary harm from restrictive measures. Since the 2008 financial crisis, there has been a renewed interest in capital and exchange controls. While such measures may be effective in the short run, they also entail risks. These include risks of counter-measures by other countries and a fragmentation of the international financial system. International co-operation is essential to avoid undesired collective outcomes as countries move to deal with global imbalances and financial turbulence. With their procedures for transparency, accountability, consultation and dialogue, the Codes make a unique contribution to maintaining and advancing international co-operation. |
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| Consultation on transfer pricing discussion drafts |
On 6 June 2012 the OECD released three transfer pricing discussion drafts that have particular importance for developing countries. These relate to (i) the use of transfer pricing safe harbours; (ii) transfer pricing aspects of intangibles; and (iii) certain timing issues related to transfer pricing. Written comments from the public on each of these documents have been requested by 14 September 2012 and a public consultation on the drafts will be held at the OECD in Paris on 12–14 November 2012. CSOs with an interest in transfer pricing issues and the consequences of such issues in developing economies are encouraged to participate in the public comment process and in the November public consultation. Due to space constraints, participants at the November public consultation will be drawn primarily from those providing timely written comments on the discussion drafts.
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Tax Inspectors Without Borders
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 The OECD's Task Force on Tax and Development has begun a feasibility study aimed at developing a "Tax Inspectors Without Borders" (TIWB) initiative. The study will consider options for an international infrastructure to share tax auditing expertise with the aim of enabling developing countries collect the right amount of tax due to them. TIWB was born from an increased awareness both within and outside the Task Force on Tax and Development of the pressing need to support developing country audit programmes. The proposal builds on the experience of the Task Force's developing country members, some of whom are currently benefitting from the assistance of more experienced tax administrations on a bilateral and ad hoc basis, or which have developed similar broad initiatives in other, related policy areas. Both business and civil society groups are key members of the Task Force, and their input and support for this initiative is central to the development of this proposal. For further information contact Caroline Malcolm of the OECD's Tax and Development Secretariat: caroline.malcolm@oecd.org.
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| Tax and incentive reviews |
The Task Force on Tax and Development is to launch a series of country reviews on the transparency of tax incentives in developing countries. Transparency of tax incentives for investment has been identified by the Task Force on Tax and Development as a key issue for developing countries, recognising that tax incentives for investment may not always achieve their stated goals and may have the potential to damage the revenue prospects of developing countries. The country reviews are expected to cover the transparency of policy objectives, expected costs and intended benefits, as well as the transparency and clarity of the qualification rules, and the processes for qualification. They will incorporate country-specific policy recommendations, and their findings will feed into the development of the OECD's Policy Framework for Investment, a key element of the OECD's Development Strategy. They will also inform the development of Principles to Enhance the Transparency and Governance of Tax Incentives for Investment in Developing Countries. The reviews will be conducted in partnership with countries which request such assistance. Input from civil society will be an important part of the review process. For further information, contact Ben Dickinson of the OECD's Tax and Development Secretariat: ben.dickinson@oecd.org.
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| Civil Society and OECD - Recent Meetings |
| Several meetings involving civil society have taken place since June. You can find more details here. |
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| OECD Forum Partner events |
| Find more details about OECD Forum Partner events here. |
