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Speech by Jeffrey Owens delivered at the Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes that was held on 29-30 September 2010 in Singapore. Jeffrey Owens talks about the impact of the crisis and governments’ attitudes towards tax compliance, cooperation between tax and other law enforcement agencies, the role of taxation in development and a renewed emphasis on confidentiality and taxpayers’
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The OECD Council adopted on 14 October 2010 a new Recommendation to strengthen the role of tax authorities in the combat against bribery that succeeds to the 2009 Recommendation.
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Taxation, Innovation and the Environment (Chinese version)
The Global Forum has been publishing its annual assessment of the legal and regulatory systems for the exchange of information in tax matters since 2006. This year’s update now covers more than 90 jurisdictions, including all OECD and G20 countries as well as all of the world’s major financial centres. New additions this year are Botswana, Brazil, Jamaica, Indonesia, Liberia and Qatar.
Equitable and efficient tax systems and administrations have an important role to play in securing domestic funding for development, according to Angel Gurría. He added that African policy makers need to reform tax systems and generate revenues, to complement external sources of financing, such as official development assistance, remittances and foreign direct investment.
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Offshore Voluntary Disclosure: Comparative Analysis, Guidance and Policy Advice, September 2010
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This report examines how, in the light of the increase in cross-border activities and investments of business entities and individuals, international co-ordination and collaboration could be advanced through the use of joint audits.
Turkey hosted the sixth meeting of the OECD’s Forum on Tax Administration in Istanbul, on 15-16 September 2010, bringing together more than 130 delegates from 43 countries. Tax Commissioners from OECD and non-OECD countries met to discuss a range of issues associated with administering tax systems in the current economic climate. The meeting, chaired by Douglas H. Shulman, Commissioner IRS USA and FTA Chair, focused in particular on
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This report provides a framework for a voluntary code of conduct for revenue bodies and banks. This is based upon the concepts developed, and proposals set out in the report Building Transparent Tax Compliance by Banks (2009) and the earlier report Study into the Role of Tax Intermediaries (2008).
The financial and economic crisis had a devastating impact on bank profits, with loss-making banks reporting global commercial losses of around USD 400 billion in 2008. This comprehensive report sets the market context for bank losses and provides an overview of the tax treatment of such losses in 17 OECD countries; describes the tax risks that arise in relation to bank losses from the perspective of both banks and revenue bodies; outlines the incentives that give rise to those risks; and describes the tools revenue bodies have to manage these potential compliance risks. It concludes with recommendations for revenue bodies and for banks on how risks involving bank losses can best be managed and reduced.