In 10 reports released today, by the OECD Global Forum on Transparency and Exchange of Information, St. Lucia, Switzerland, Albania, Cameroon, Gabon, Pakistan and Senegal are all found ‘Largely Compliant with international tax transparency and exchange of information rules. The United Arab Emirates was found ‘Partially Compliant’ only. Both Ukraine and Liberia‘s legal and regulatory framework… More Just In: Switzerland Now ‘Largely Compliant’ with International Transparency Rules.
Pascal Saint Amans – Director, OECD Centre for Tax Administration and Policy The OECD has confirmed the criteria for G20-mandated blacklisting of ‘uncooperative jurisdictions’ in the after-burn of the Panama Papers. The work of the OECD Global forum (Global Forum) is concerned with defining and implementing tax transparency standards and so the ‘objective… More The OECD Reveals the G20 Blacklist Criteria for Uncooperative Jurisdctions
(Image: Martin Schulz re-elected President of the European Parliament. MEPs re-elected Martin Schulz as President of the European Parliament on Tuesday morning for another two and a half year term. The 58-year old German MEP will lead Parliament until January 2017) Here is the EU’s 2016 ‘Work Plan’ as effectively adopted by EU Parliamentarians; as prepared the… More EU Parliament Outlines 2016 Plans to Fight Aggressive Tax Avoidance & Evasion.
(Christine Lagarde, Managing Director of the IMF) I suppose depending on your view of the International Monetary Fund (‘The Fund’) you could say that the last month’s release of a paper by its Fiscal Administration Department (FAD) on the role of the Fund in matters of international taxation is better late than never. It does however beg… More IMF Finally Adds Its Voice to the International Tax Debate: Will It Take Us Ten Steps Back?
Do you know why Hong Kong has now enacted legislation to allow it to start negotiating Tax Information Exchange Agreements (TIEAs)? Fear. I think Hong Kong is fearful that its OECD Phase 2 Assessment, which looked at the adequacy of its administrative machinery to exchange information (EOI) to current standards and its response to shortcomings… More What’s Driving Hong Kong’s Fear and Why OFCs Should Take Note.
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On page 11 of the OECD report to the recently concluded G8 Summit titled “A Step Change in the Transparency Agenda” is the following footnote: “In view of the next G20 Summit, we also strongly encourage all jurisdictions to sign or express interest in signing the Multilateral Convention on Mutual Administrative Assistance in Tax Matters… More I Predict a New OECD Tax Haven Blacklist…Here’s the Evidence.