OECD and tax administrations discuss BEPS implementation at regional meeting in the Slovak Republic

80 delegates from 20 countries and 11 organisations gathered in Bratislava for the third regional meeting of the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) in the Eastern Europe and Central Asia region. This meeting belongs to a new series of regional events that offer participants from different regions in the world the opportunity to provide their views and input into the Inclusive Framework on BEPS.
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Africa rapidly broadening tax base

A new report by the OECD documents a strong increase in the average tax-to-GDP ratio of 16 African countries, but shows that tax revenue potential has much room to accelerate further.
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Africa rapidly broadening tax base

A new report by the OECD documents a strong increase in the average tax-to-GDP ratio of 16 African countries, but shows that tax revenue potential has much room to accelerate further.
Geplaatst in Internationaal, Internationaltaxreview, Nieuws | Reacties uitgeschakeld voor Africa rapidly broadening tax base

EU countries fail to fight money laundering and tax evasion, finds committee

- Lack of political will among some member states for reforms
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Onsite-visit in Tbilisi to launch Induction Programme and assist Georgia in the implementation of the new international tax standards

On 16 October 2017, an OECD delegation met in Tbilisi the Georgian First Deputy Minister and Head of Georgia Revenue Service Giorgi Tabuashvili and Deputy Minister Lasha Khutsishvili to discuss the progress of the country in implementing the new international standards to combat tax avoidance and tax evasion.
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Amazon and eBay profiting from foreign traders avoiding UK VAT

The UK is losing billions of pounds in revenues each year from online VAT fraud committed by foreign traders. But with Amazon and eBay profiting from the fraudsters, and HMRC not doing enough to tackle the problem, is collaboration or conviction the better solution?
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Austria’s next coalition spells tax cuts

Sebastian Kurz is poised to become the first conservative Austrian chancellor in more than a decade and his claim on power puts tax cuts on the agenda.
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Brazil increases tax benefits for the oil and gas sector

The federal government has amended the customs and tax treatment applicable to the oil and gas sector to boost investment and provide tax certainty.
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Public consultation on transfer pricing matters – 6-7 November 2017

The OECD will hold a public consultation event on transfer pricing matters on 6-7 November at the OECD Conference Centre in Paris, France.
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The Guardian view on social care: the cost of cowardice | Editorial

For a generation, politicians have ducked the challenge of restructuring health and social care. But if they don’t act now it may be too late

The cost of social care is bankrupting local councils and threatening the NHS. The latest study points out that any reform based, like the so-called dementia tax, on property values must take account of how different they are in the south of England compared with the north or with Wales. Last week, the normally ultra-cool NHS boss Simon Stevens told MPs on the health committee that its budget was “extremely challenging” and unless it was increased, the NHS might not be able to meet patient demand. With both health and social care budgets under such extreme pressure, it is no surprise that the two arms of care, instead of being locked in a protective embrace of those who should be able to rely on them, are engaged in the most bad-tempered wrestling that informed observers can remember.

Surveying the wreckage of seven years of austerity, the chancellor, Philip Hammond, is under instructions to find a headline-grabbing initiative in next month’s budget to redress the generation gap. The dementia tax may have been flawed, but some kind of windfall tax on the huge increase in house values enjoyed by many older voters is one answer, and seems still to be in the mix. At the Tory party conference, it has now emerged that the social care minister, Jackie Doyle-Price, repeated the argument that it was unfair if old people who lived in valuable houses had social care bills paid by the state.

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Hong Kong to encourage innovation among MNEs with two-tier tax plan

Hong Kong’s Chief Executive Carrie Lam has revealed the details of the two-tier profits tax system, as well as research and development (R&D) incentives, but big companies will gain little benefit.
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Governments rapidly dismantling harmful tax incentives worldwide: BEPS Project driving major changes to international tax rules

Governments have dismantled, or are in the process of amending, nearly 100 preferential tax regimes as part of the OECD/G20 BEPS standards to improve the international tax framework, according to a progress report released today.
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It’s time to roll forward the frontiers of the state and heal the rifts | Letters

Jeremy Cushing on the money that could be put to use to reform society, Neil Hornsby advocates abolishing the national insurance upper limit and Lawrence Lockhart taking more from the higher rates of income tax, while Jamie Gough warns of the problems of communitarianism

Abi Wilkinson suggests a massive redistribution (How about an NHS for housing and food?, 12 October) and in your front-page story the IMF suggests a way of financing it (Higher taxes for rich will cut inequality without hitting growth).

With the minor exception of George Osborne’s national living wage – which will distribute around £4bn to the poorest workers, compared with £14bn the Tories are planning to take away from them through welfare cuts – redistribution has all been from the poor to the rich. The IMF report says the average income tax rate for the rich OECD countries fell from 62% in 1981 to 35% in 2015 (and probably even more if you count extra tax relief). The amounts of money this reflects are simply staggering. In the UK, the fall in the share of national income going to wages – from 80% to 73% over the last 40 years – represents about £130bn every year going to profits rather than wages. As a result, there are enormous amounts of money sloshing around in the economy. But instead of being used to benefit all of us, it’s being used to create more wealth for those who already have more than they need.

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ECJ clarifies VAT treatment of hire purchase contracts in Mercedes case

Businesses could find VAT accounting easier after the European Court of Justice (ECJ) ruled that hire purchase-like contracts, which include an option to buy, should be treated as a supply of goods, rather than services, if exercising this option is the lessee’s obvious choice.
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Revenue mobilisation in Africa continues to improve, says new report

The mobilisation of domestic resources is improving steadily in African countries, according to new data from Revenue Statistics in Africa 2017 released today in Addis Ababa at a meeting of tax and finance officials from 21 African countries hosted by the Department of Economic Affairs of the African Union Commission (AUC).
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