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Mexico has achieved a high degree of decentralisation in public services, but the Mexican fiscal
federal system has important shortcomings. States and municipalities have become heavily dependent on
federal transfers to finance a growing share of public spending.
In the run-up to the financial crisis, indebtedness of households and non-financial businesses rose to historically high levels in many OECD countries; gross debt of financial companies rose dramatically relative to GDP. Much of the debt accumulation appears to have been based on excessive risk-taking and exceptional macro-economic conditions and therefore not sustainable.
The Global Forum on Transparency and Exchange of Information for Tax Purposes has released peer review reports assessing the tax systems of 13 jurisdictions for information exchange.
The OECD released for public comment a Revised Discussion Draft on Transfer Pricing Aspects of Intangibles. The Revised Discussion Draft updates and expands an earlier discussion draft released in June 2012 to reflect comments received and further discussions of country delegates to Working Party No. 6 of the Committee on Fiscal Affairs. Comments of interested persons are requested by 1 October 2013.
As part of its project on transfer pricing simplification, the OECD has released a White Paper on Transfer Pricing Documentation. Comments of interested persons are requested by 1 October 2013.
English, PDF, 310kb
G20 Finance Ministers and Central Bank Governors met to review the current global economic conjuncture and discuss the required policies in preparation for the G20 Leaders’ Summit in September 2013.
The OECD today presented to G20 finance ministers plans for a two-pronged attack on tax avoidance and evasion from both companies and individuals.
English, PDF, 1,278kb
The OECD’s update on progress towards automatic exchange of information and its Action Plan on Base Erosion and Profit Shifting (BEPS) were presented to G20 finance ministers meeting in Moscow on 19-20 July 2013.
The joint challenges of tax evasion and tax base erosion lie at the heart of the social contract. Our citizens are demanding that we tackle offshore tax evasion by wealthy individuals and re-vamp the international tax system to prevent multinational enterprises from artificially shifting profits, resulting in very low taxes or even double non-taxation and thereby eroding our tax base.
National tax laws have not kept pace with the globalisation of corporations and the digital economy, leaving gaps that can be exploited by multi-national corporations to artificially reduce their taxes.