At its meeting in April this year, the Task Force proposed a work-programme for 2011/12 for each of its four priority areas, including transfer pricing, which was approved by the Committee for Fiscal Affairs and the Development Assistance Committee at their meetings in July.
Furthering efforts to fight against international tax evasion and bank secrecy, members of the Global Forum on Transparency and Exchange of Information for Tax Purposes have issued 12 new peer review reports.
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The economic crisis means global corporate losses have increased significantly. Though most of these claims are justified, some corporations use ‘aggressive tax planning’ to avoid taxes. Governments are working together to detect and deter these undue tax advantages.
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The OECD Standard Transmission Format Version 2.1 user guide
Corporate losses raise compliance risks if aggressive tax planning is used as a means of increasing or accelerating tax relief in ways not intended by the legislator, or to generate artificial losses. This report describes the size of loss carry-forwards, the rules applicable in relation to losses, and identifies the following risk areas: corporate reorganisations, financial instruments and non-arm’s length transfer pricing. After
In recent years, India has enjoyed one of the highest growth rates worldwide, weathering the global financial crisis better than many other countries.
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Following the invitation for public comment on the VAT/GST Guidelines on Neutrality, the OECD has now published the comments received. These comments were very supportive of the Guidelines and will be used to develop further guidance on their implementation in practice.