A special project meeting of the Joint International Tax Shelter Information and Collaboration (JITSIC) Network took place at the OECD in Paris on Wednesday 13 April, bringing together senior tax administration officials from countries worldwide to discuss opportunities for obtaining data, co-operation and information-sharing in light of the “Panama Papers” revelations.
Taxes on labour income for the average worker across the OECD remained stable at 35.9% in 2015, ending a series of steady annual increases dating to 2011, according to a new report.
Government officials from around the world have called on the OECD to convene a special project meeting of the Joint International Tax Shelter Information and Collaboration (JITSIC) Network to explore possibilities of co-operation and information-sharing, identify tax compliance risks and agree collaborative action, in light of the “Panama Papers” revelations.
On 29/02/2016, interested parties were invited to comment on a discussion draft othat includes proposals for changes to the OECD Model Tax Convention concerning the treaty residence of pension funds. The OECD is grateful to the commentators for their input and now publishes the comments received.
The “Panama Papers” revelations have shone the light on Panama’s culture and practice of secrecy. Panama is the last major holdout that continues to allow funds to be hidden offshore from tax and law enforcement authorities
Tax revenues in African countries are rising as a proportion of national incomes, according to the inaugural edition of Revenue Statistics in Africa. In 2014, the eight countries covered by the report - Cameroon, Côte d’Ivoire, Mauritius, Morocco, Rwanda, Senegal, South Africa and Tunisia - reported tax revenues as a percentage of GDP ranging from 16.1% to 31.3%.
Responses are invited to the questions included in a consultation document on issues and suggestions related to the impact of the Report on BEPS Action 6 on the tax treaty entitlement of non-CIV funds.
In a continued effort to boost transparency in international tax matters, the OECD has today released its standardised electronic format for the exchange of Country-by-Country (CbC) Reports between jurisdictions – the CbC XML Schema – as well as the related User Guide.
Mr. James Karanja has been appointed as Head of the joint OECD/UNDP Tax Inspectors Without Borders (TIWB) Initiative effective 11 April 2016. Mr. Karanja will lead the development of TIWB, which has been designed to support developing countries to build tax audit capacity.
Despite a continuing slowdown in economic growth, tax revenues in Latin American and Caribbean countries rose slightly in 2014, as a proportion of national incomes, according to new data from the annual Revenue Statistics in Latin America and the Caribbean publication.