This paper explores the practical challenges tax policy analysts face when trying to apply differential taxation to “normal” and “excess” returns. The distinction between these two elements is being increasingly used in tax policy. The problem is that there is no clear definition for a “normal” return.
The Global Forum on Transparency and Exchange of Information for Tax Purposes held its annual meeting in Tbilisi, Georgia on November 2-4, bringing together 220 delegates from 84 jurisdictions and 12 International organisations to further their shared goal of improving tax transparency and achieving a level playing field.
Following the first meeting of the Inclusive Framework on BEPS in Kyoto, Japan, on 30 June-1 July and the regional meeting for Latin America and the Caribbean held in Montevideo, Uruguay, on 21-23 September, more countries and jurisdictions are joining the framework. On 28 October, the Inclusive Framework on BEPS welcomed Panama as its 87th member.
Panama signed today the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, making it the 105th jurisdiction to join the world’s leading instrument for boosting transparency and combating cross-border tax evasion. The signing shows that Panama is now implementing its commitment to fully cooperate with the international community on transparency.
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This brochure highlights the key areas of work of the OECD’s Centre for Tax Policy and Administration and the various groups that it serves.
As part of continuing efforts to boost transparency by multinational enterprises (MNEs), Brazil, Guernsey, Jersey, the Isle of Man and Latvia signed today the Multilateral Competent Authority Agreement (MCAA) for the automatic exchange of Country-by-Country reports, bringing the total number of signatories to 49.
Today the OECD released key documents, approved by the Inclusive Framework on BEPS, that will form the basis of the Mutual Agreement Procedure (MAP) peer review and monitoring process under Action 14 of the BEPS Action Plan.
Today, as a further step to implement the OECD Common Reporting Standard (CRS), the first series of bilateral automatic exchange relationships were established among the first batch of jurisdictions committed to exchanging information automatically as of 2017.
The OECD received a strong endorsement from both the G20 Leaders and Finance Ministers to work on solutions to support certainty in the tax system with the aim to promote investment, trade and balanced growth. As part of a wider project, the OECD launches a Business Survey to invite businesses and other stakeholders to contribute their views on tax certainty.
The scale of the transition to a green, low-emissions and climate-resilient economy is enormous – it is the biggest structural adjustment ever proposed in the field of international governance. The OECD Centre will catalyse and support the transition to a green, low-emissions and climate-resilient global economy through the development of effective policies, institutions and instruments for green finance and investment.