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Financial crimes, including corruption, tax fraud and money laundering, are a threat to all countries, both developing and developed. The sums are vast. Estimates have put total proceeds from all illicit activities at 3.6% of global GDP.
OECD Working Party No. 6 releases a discussion draft on the Transfer Pricing Aspects of Intangibles
OECD releases a discussion draft on the revision of the Safe Harbours section of the Transfer Pricing Guidelines.
Colombia and Mexico are a step closer to beneffiting from cross border tax co-operation and information sharing. Colombia has signed, and Mexico has deposited its instrument of ratification for the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
The average tax and social security burden on employment incomes increased in 26 out of 34 OECD countries in 2011 according to the new OECD Taxing Wages publication. Tax payers in Ireland, Luxembourg, Portugal and the Slovak Republic were among those hit with the largest increases.
The Global Forum on Transparency and Exchange of Information for Tax Purposes has just completed peer reviews of 11 jurisdictions. This brings to 70 the number of peer review reports completed since March 2010.
India has ratified the Convention on Mutual Administrative Assistance in Tax Matters, a multilateral agreement developed jointly by the Council of Europe and the OECD that was opened for signature to all countries in June 2011.
Greece has signed the Convention on Mutual Administrative Assistance in Tax Matters, a multilateral agreement that was developed jointly by the Council of Europe and the OECD and that is open for signature to all countries.
Increased domestic resource mobilization is widely accepted as crucial for countries to successfully meet the challenges of development and achieve higher living standards for all their people.
Uruguay has signed 7 new agreements providing for the exchange of tax information, showing its willingness to implement the global standards.