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This information note has been prepared to assist member revenue bodies achieve improved compliance with their VAT systems by sharing knowledge of recent developments in selected countries.
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This information note has been prepared to assist revenue bodies advance their thinking on the use of legislated withholding and information reporting
The OECD's Guidelines for dealing with commercial transactions between different parts of a multinational group.
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The High Level VAT Conference was held in Lucerne on 9-10 September 2009, bringing together senior tax policy officials from 25 OECD countries, the European Commission and 5 non-member economies. The Communiqué is now available.
On 9 September, the OECD released for public comment a proposed revision of Chapters I-III of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations
This publication examines the High Net Worth Individual taxpayer segment, describes their usage of aggressive tax planning schemes and proposes prevention, detection and response strategies that tax administrations can use to respond to these challenges.
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On 9 September, the OECD released for public comment a proposed revision of Chapters I-III of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations.
High Net Worth Individuals (HNWIs) pose significant challenges to tax administrations due to the complexity of their affairs, their revenue contribution, the opportunity for aggressive tax planning, and the impact of their compliance behaviour on the integrity of the tax system. This publication examines in detail this taxpayer segment, describes their usage of aggressive tax planning schemes and proposes prevention, detection and response strategies that tax administrations can use to respond to these challenges. It also addresses aspects of voluntary disclosure initiatives for past non-compliance that may be particularly pertinent in the current environment.
The publication outlines a number of innovative approaches to enable governments to better manage the risks involved with marketed tax schemes and tailor-made arrangements. To improve compliance, tax administrations could consider changing the structure of their operations to focus resources effectively, for example, through the creation of a dedicated HNWI unit. Other recommendations include creating the appropriate legal framework, exploring forms of co-operative compliance and engaging more in international co-operation, at both the strategic and operational level.
In a statement following their 5 September meeting in London, in advance of Pittsburgh, the G20 Finance Ministers and Central Bank Governors reaffirmed their commitment to strengthen the financial system, but stated that more needs to be done to maintain momentum. They also stated that unprecedented progress has been made since the November 2008 G20 Summit with regard to the OECD’s standards of tax information exchange and
Today, on the eve of the Pittsburgh G20 meeting, the Global Forum on Transparency and Exchange of Information dealing with tax matters, took major steps to confirm the end of the era of banking secrecy as a shield for tax evaders.