The International Monetary Fund has called for a ‘comprehensive reform’ of the US tax system in the concluding statement of its annual ‘Article IV’ consultation issued in June (see http://bit.ly/29D2CPf).
Allan Cinnamon (Cintax the Word Ltd) provides a quarterly update on tax treaty developments.
The European Commission’s Anti-Tax Avoidance Directive shows that the Commission clearly doesn’t trust member states of the EU to implement the OECD’s BEPS 2015 recommendations, write Zoe Wyatt & Tom Wesel (Milestone International Tax Partners).
HM Treasury has added India to the list of countries that have declared their support for the initiative to establish automatic exchange of information on beneficial ownership. This brings to 41 the number of countries now participating.
The European Parliament has voted to set up an inquiry committee into the ‘Panama papers’ revelations of detailed information on offshore companies and their ultimate beneficiaries.