For years the OECD has advocated a policy of improved international tax co-operation between governments, including better information exchange and transparency to counter international tax avoidance and evasion. As a result of this work and recognising the importance of tax co-operation in addressing aggressive tax planning, the OECD intensified its work in this area and set up the Aggressive Tax Planning (ATP) Steering Group, a subgroup of Working Party No. 10 on Exchange of Information and Tax Compliance, to act as a competence centre for the Organisation.
The OECD's work in this area focuses on helping governments to respond more quickly to tax risks, to identify trends and patterns already identified and experienced by some tax administrations, and to share experiences in dealing with them. The timely sharing of such information assists governments in understanding new schemes, facilitates their detection, and enables countries to adapt their risk management strategies and identify successful legislative and administrative responses. Recent projects include reports on corporate losses in the banking sector and beyond, on disclosure initiatives and on hybrid mismatch arrangements. The work is supported by the OECD Aggressive Tax Planning Directory and through seminars and workshops.
Find out more on the OECD Aggressive Tax Planning Directory.
Did you know?
...that the UK was able to cut off GBP 12 billion in avoidance opportunities through its mandatory disclosure rules?
...that an ongoing project is looking at the aggressive tax planning issues of after-tax hedging?
...that the OECD's work had helped Italy to detect, and later on settle a number of cases involving aggressive tax planning for an amount of approximately EUR 1.5 billion?
...that several countries have already changed or are proposing to change their rules on the tax treatment of losses after the publication of the report Corporate Loss Utilisation through Aggressive Tax Planning?
For further information about the OECD's work on Aggressive Tax Planning, please contact Achim Pross or Raffaele Russo.