Monday, 24 September 2018

Piloting a way to oil sales transparency

Ghana is showing the way to bring more transparency to the selling and buying of crude oil, transactions that bring governments and companies billions of dollars every year. Ghana EITI has recently published on its website (see here) the results of a pilot project to enhance transparency of oil sales in the country.  We, Engaged Consulting and Michael Barron Consulting, carried out the pilot project.  

Sunday, 23 September 2018

Country-by-country reporting - OECD issues updated guidance

Action 13 of the OECD’s BEPS project introduced country-by-country reporting (CBCR). Since then, the OECD have issued guidance on interpretation of the requirements, and the latest guidance was issued in September 2018. 

The latest guidance (in fact an update and expansion of the previous guidance) focuses on three new areas - treatment of dividends, shortened amounts (rounding) and employee numbers.

Sunday, 1 October 2017

Conservative Party Conference: Gibraltar and Brexit

Hon. Fabian Picardo MP, Chief Minister of Gibraltar has just spoken at the Conservative Party Conference.

Thursday, 29 June 2017

European Commission Tax Fairness Conference: Taxing fairly – Taxing global

Today is day 2 of the European Commission Tax Fairness Conference, and the first session was entitled Taxing fairly – Taxing global. The key theme was to discuss how tax policy can ensure that large businesses pay a fair share of tax, when tax is fundamentally a national issue.

The panel consisted of:

  • Valère Moutarlier, Director for Direct taxation, DG Taxation and Customs Union, European Commission
  • Richard Murphy, Professor of Practice in International Political Economy at City University; Director at Tax Research UK and the Fair Tax Mark
  • Jim Clarken, Executive Director of Oxfam Ireland
  • Will Morris, Deputy Global Tax Policy Leader, PwC; Chair of the BIAC Tax Committee 
These are some of the key comments from the session.

Wednesday, 24 May 2017

EESC: “A favourable tax system for fair competition and growth”

This morning in Brussels, the European Economic and Social Committee (EESC) hosted a debate, presenting their paper “A favourable tax system for fair competition and growth”. It brought together representatives of DG TAXUD, the OECD, NGOs, Accountancy Europe and others.

Here are some of the key comments made during the event.

Tuesday, 24 January 2017

Davos 2017: Efforts to tackle tax avoidance on the agenda

At the World Economic Forum in Davos last week, the subject of tax was once again on the agenda. Whether it was Oxfam, the OECD or Theresa May, efforts to tackle tax avoidance were under scrutiny. With the UK wedded to having the lowest tax rate in the G20, and President Trump promising to dramatically cut US taxes, claims that there is a “race to the bottom” seem ever more believable. However, opinions remain divided as to whether this is a good or a bad thing.

The tax debate has come a long way in the last few years, but frustrations remain that what should be common ground around terminology and matters of fact gets muddied. In the long run, this is counter productive for all.

MEPs tell EU Commission to expand “blacklist” of states at risk of money laundering to include “tax havens”

Last week the European Parliament considered the European Commission's "blacklist" of countries deemed to be at risk of money laundering and terrorist financing. Companies and individuals from blacklisted countries face more stringent checks (for example from banks), when seeking to do business in the EU. Although not specifically related to tax, as with so many issues is seems, this piece of work has now encompassed the tax avoidance debate.