As part of continuing efforts to boost transparency by multinational enterprises (MNEs), Canada, Iceland, India, Israel, New Zealand and the People’s Republic of China signed today the Multilateral Competent Authority agreement for the automatic exchange of Country-by-Country reports (“CbC MCAA”), bringing the total number of signatories to 39 countries. The signing ceremony took place in Beijing, China.
In a boost for international efforts to strengthen co-operation against offshore tax evasion, seven new countries have joined the agreement to exchange information automatically under the OECD/G20 standard.
Taxes on wages have risen by about 1 percentage point for the average worker in OECD countries between 2010 and 2014 even though the majority of governments did not increase statutory income tax rates, according to a new OECD report.
Air pollution is costing advanced economies plus China and India an estimated USD 3.5 trillion a year in premature deaths and ill health and the costs will rise without government action to limit vehicle emissions, a new OECD report says.
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.
India has ratified the Convention on Mutual Administrative Assistance in Tax Matters, a multilateral agreement developed jointly by the Council of Europe and the OECD that was opened for signature to all countries in June 2011.
The OECD and India have announced plans to strengthen ongoing co-operation on tax-related issues through the development of a three-year partnership that will provide greater opportunities for structured dialogue and information sharing.
India faces the same challenges as every OECD member country: how to adapt its domestic tax system and its international tax policies to a borderless economy, and how to ensure that the approaches embraced today will be well suited to meet the needs of the economy of tomorrow, said OECD Secretary-General. OECD can offer to India a forum for sharing worldwide experiences and benchmarking national policies against best practices, a
This report summarises the legal and regulatory framework for transparency and exchange of information for tax purposes in India.
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India hosted the second meeting of the Steering Group of the Global Forum on Transparency and Exchange of Information on 11 – 12 February in New Delhi.The Steering Group, which guides the work of the Global Forum, considered the core documents required to launch the peer review process. It also examined the progress of the Global Forum in moving forward on the mandate given to it by the G20 in November 2009.