OECD Publishes New Tax Report

The OECD has published the report on the progress of implementation OECD tax standards.

The document reports on the activities of the tax agenda for the period 2017-2018 and well as the progress which has been made therein by the Global Forum on Transparency and Exchange of Information for Tax purposes.
Some snippets are as follows:
1.) By June 2018 (from 2009), jurisdictions would have identified EUR 93 billion in additional revenue due to tax transparency initiatives;
2.) Concerning the implementation of Base Erosion and Profit Shifting (BEPS), 116 countries, representing 95% of global GDP are now members of the inclusive framework on BEPS. Last year (2017), fifteen (15) new members joined, six (6) of which were CARICOM members;
3.) 175 preferential tax regimes have been reviewed by the OECD and more than 130 have been amended or abolished or are in the process of doing so;
4.) Eleven (11) CARICOM territories are Largely Compliant with Exchange of Information on Request (EOIR) Standards, two (2) are provisionally Largely Complaint, one (1) is partially compliant and one (1) is Non-Compliant.

Read the full report HERE

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