The OECD has published its latest report to G20 Finance Ministers outlining developments in the international tax agenda, including an update on implementation of the BEPS actions. The report draws attention to the tax challenges of the digital economy, stating that an interim report will be delivered in 2018 with a view to publishing the final report in 2020. The proposed reports will update the 2015 report to set out the latest developments on this issue, highlight the key questions for tax policy makers and outline solutions to address them. See http://bit.ly/2ovLsJ5.
The report also included updates on tax transparency, considering the implementation of the common reporting standard and the exchange of information, and discussed the ongoing efforts to address the needs of developing countries in tax matters.
The OECD has also published, jointly with the IMF, a report on ‘Tax certainty’, exploring the sources of tax uncertainty and how this affects business decisions, outlining a set of concrete and practical approaches to help policy makers and tax administrations shape a more certain tax environment. The report’s recommendations included:
· reducing complexity and improving the clarity of legislation through improved tax policy and law design;
· improving tax dispute prevention and resolution at the domestic and international level; and
· using innovative tools to enhance certainty in tax administration, including cooperative compliance programmes, advance pricing agreements, as well as simultaneous and joint audits.
The OECD has published its latest report to G20 Finance Ministers outlining developments in the international tax agenda, including an update on implementation of the BEPS actions. The report draws attention to the tax challenges of the digital economy, stating that an interim report will be delivered in 2018 with a view to publishing the final report in 2020. The proposed reports will update the 2015 report to set out the latest developments on this issue, highlight the key questions for tax policy makers and outline solutions to address them. See http://bit.ly/2ovLsJ5.
The report also included updates on tax transparency, considering the implementation of the common reporting standard and the exchange of information, and discussed the ongoing efforts to address the needs of developing countries in tax matters.
The OECD has also published, jointly with the IMF, a report on ‘Tax certainty’, exploring the sources of tax uncertainty and how this affects business decisions, outlining a set of concrete and practical approaches to help policy makers and tax administrations shape a more certain tax environment. The report’s recommendations included:
· reducing complexity and improving the clarity of legislation through improved tax policy and law design;
· improving tax dispute prevention and resolution at the domestic and international level; and
· using innovative tools to enhance certainty in tax administration, including cooperative compliance programmes, advance pricing agreements, as well as simultaneous and joint audits.
