The OECD Council approved yesterday the contents of the 2014 update to the OECD Model Tax Convention. The update will be incorporated in a revised version of the Model Tax Convention that will be published in the next few months.
Gabon has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters at a ceremony today at the OECD. Gabon is the seventh African country to sign the Convention since it was opened for signature to all countries in June 2011.
Cameroon has become the 65th signatory of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, the most powerful international instrument to fight international tax avoidance and evasion.
OECD publishes comments received on Action 2 discussions drafts (Neutralise the Effects of Hybrid Mismatch Arrangements)
Bank secrecy for tax purposes is coming to an end as countries and major financial centres commit to automatic exchange of information between jurisdictions.
The shares of the richest 1% in total pre-tax income have increased in most OECD countries over the past three decades. This rise is the result of the top 1% capturing a disproportionate share of overall income growth over that timeframe: up to 37% in Canada and 47% in the United States, according to new OECD analysis.
The international community continues making progress toward greater cooperation to ensure effective information exchange in tax matters. The Global Forum on Transparency and Exchange of Information for Tax Purposes issued today 12 new reports that highlight action being taken by jurisdictions to implement the international standard for exchange of information on request.
The governments of 86 countries have taken a key step towards preventing value added tax from weighing on trade while also safeguarding state revenues by endorsing the first internationally agreed framework for applying national VAT rules to cross-border transactions.
On 24 March 2014, the OECD invited comments from interested parties on the Discussion Draft on Tax Challenges of the Digital Economy related to Action 1 of the BEPS Action Plan. The OECD now publishes the comments received.
Personal income tax has risen in 25 out of 34 OECD countries over the past three years, as countries reduce the value of tax-free allowances and tax credits and subject higher proportions of earnings to tax, according to new data in the annual Taxing Wages publication.