Aggressive Tax Planning based on After-Tax hedging
While after-tax hedging is not, of itself, aggressive - being generally a straightforward risk management technique - the report recognises that it can also be used as a feature of ATP schemes.
Fighting unintended double non-taxation
Senior tax officials from OECD countries met in Montreal on 8-10 May 2012 to discuss unintended double non-taxation due to the use of hybrid mismatch arrangements. The meeting was organised by the Canada Revenue Agency (CRA) in cooperation with the OECD.
OECD recommends action on international tax loopholes
Aggressive tax planning – untaxed income, multiple deductions and other forms of international tax arbitrage - is a growing concern for all governments.
Revenue bodies and banks move towards transparent compliance
Officials from revenue bodies, the banking sector and OECD met in Rome on 10-11 October to discuss ways to enhance the relationship between tax administrations and the banking industry and thus improve tax compliance.
Governments concerned that some corporations unfairly claim losses to avoid taxes
Due to the recent financial and economic crisis, global corporate losses have increased significantly. Numbers at stake are vast, with loss carry-forwards as high as 25% of GDP in some countries. Though most of these claims are justified, some corporations find loop-holes and use ‘aggressive tax planning’ to avoid taxes in ways that are not within the spirit of the law.
Disclosure initiatives on the rise
Officials from more than 20 countries met in London on 10-11 March 2011 to share ideas and experiences regarding disclosure initiatives and other recent developments in the area of anti-avoidance. The meeting was organised by the UK’s HM Revenue & Customs and the OECD.
Tackling Aggressive Tax Planning through Improved Transparency and Disclosure
Aggressive tax planning is a major risk to the revenue base of many countries. Countries have developed a number of strategies to deal with aggressive tax planning. This report, approved by all OECD members, covers a range of approaches from mandatory disclosure rules to forms of co-operative compliance. The report provides a toolkit for those concerned with aggressive tax planning and recommends a careful review of the different approaches to inform both tax policy and compliance.