On 6 November 2023, as part of the ongoing work of the OECD/IGF partnership on base erosion and profit shifting (BEPS) in the mining programme, the OECD and IGF sought public comments on a mineral pricing framework for lithium. The OECD and IGF are grateful to the commentators for their input and now publish the public comments received.
On 19 February 2024, the OECD/G20 Inclusive Framework on BEPS released the report on Amount B of Pillar One, which provides a simplified and streamlined approach to the application of the arm's length principle to baseline marketing and distribution activities, with a particular focus on the needs of low-capacity countries.
Jurisdictions continue to make progress in addressing harmful tax practices through the implementation of the international standard under BEPS Action 5. This progress is evident in the release of new results on preferential tax regimes and substantial activities in no or only nominal tax jurisdictions.
The OECD releases today the first aggregated statistics from the Forum on Tax Administration (FTA) International Compliance Assurance Programme (ICAP) for a multilateral risk assessment of an MNE group’s key international tax risks.
The OECD publishes the public comments received on the proposed changes to the Commentary on Article 5 of the OECD Model Tax Convention and its application to extractible natural resources.
Zambia has joined the international fight against tax evasion as 171st member – and 39th African member – of the Global Forum. Zambia is the sixth African country to join the Global Forum in the past eighteen months, following the Republic of the Congo (June 2022), Angola (March 2023), Zimbabwe (April 2023), Sierra Leone (May 2023) and the Democratic Republic of the Congo (December 2023).
Senegal has committed to implement the international Standard for Automatic Exchange of Financial Account Information in Tax Matters (AEOI) by September 2025.
The OECD's Committee on Fiscal Affairs (CFA) has elected Mr. Tim Power, Deputy Director for Business and International Tax in His Majesty’s Treasury of the United Kingdom, as the Chair of the Committee beginning on 18 December 2023. He replaces Mr. Gaël Perraud, who resigned in December 2023 following his move to a new position within the French Ministry of Finance.
Today, the OECD/G20 Inclusive Framework on BEPS (Inclusive Framework) released further technical guidance to assist governments with implementation of the global minimum tax under Pillar Two and a statement on the timeline of the Multilateral Convention (MLC) under Pillar One.
Today, the OECD/G20 Inclusive Framework on BEPS released the latest peer review assessments for 131 jurisdictions in relation to the compulsory spontaneous exchange of information on tax rulings. This is the seventh annual peer review of the implementation of the BEPS Action 5 minimum standard on tax rulings.