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On 30 January 2014, the OECD invited comments from interested parties on the Discussion Draft on transfer pricing documentation and country-by-country reporting. The OECD now publishes the comments received.
A revision of the timetable for planned stakeholders’ input is now available online with the dates when discussion drafts will be published and public consultations held in relation to the September 2014 BEPS outputs.
Offshore tax evasion remains a serious problem for countries and jurisdictions worldwide, with vast amounts of funds deposited abroad and sheltered from taxation when taxpayers fail to comply with obligations in their home countries.
Tax revenues in Latin American countries continue to rise but are lower as a proportion of their national incomes than in most OECD countries. Revenue Statistics in Latin America 2012 shows that Argentina and Brazil have the highest tax revenue to GDP ratio, while Guatemala and Dominican Republic stand at the lower end.
On 22 November 2013, a request for public comments on the tax challenges of the digital economy was launched. The OECD now publishes the comments received.
Kazakhstan has become the 64th signatory of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, the most powerful international instrument to fight international tax avoidance and evasion.
Tax revenues continue bouncing back from the low levels reported in almost all countries during 2008 and 2009, at the height of the global economic crisis, according to new OECD data in the annual Revenue Statistics publication. The average tax revenue to GDP ratio in OECD countries was 34.6% in 2012, compared with 34.1% in 2011 and 33.8% in 2010.
Senior tax policymakers and administrators from across the world are meeting this week in Marrakech to discuss how powers to set and collect taxes should be allocated across different levels of government to ensure accountability, efficiency and economic stability.
The timeline of the OECD/G20 BEPS Project is extremely ambitious, with the first outputs expected for September 2014 and the completion of the project by the end of 2015. Input from relevant stakeholders is essential as the BEPS Project moves forward to develop the measures envisaged in the BEPS Action Plan.
Hundreds of thousands of elected sub-national governments worldwide provide services and levy taxes on residents and companies.