Weekly roundup – 3 June

Welcome to the latest weekly roundup.

OECD appoints new Head of the Tax Treaty, Transfer Pricing & Financial Transactions Division in the Centre for Tax Policy and Administration (OECD)

In this capacity, Mr. VanderWolk will support the Director in CTPA’s contribution to the strategic objectives of the Secretary-General in the area of taxation, leading and providing strategic direction to the Directorate’s work on tax treaties, transfer pricing and financial transactions. He will play a key role in the ongoing work on Base Erosion and Profit Shifting. He will work closely with other parts of the Organisation in the development and implementation of horizontal projects and corporate initiatives, and on strategies to advance the implementation and global impact of the OECD tax work, including through increased engagement with key partners…

How would a downgrade affect transfer pricing? (www.transferpricing.co.za)

South Africa’s credit rating could be downgraded to “junk” on the 3rd of June 2016. In simple terms this would mean that South Africa will have to pay a higher interest rate for its debt as South Africa is seen as a riskier investment by lenders. This will have knock on effects on the economy, but what does that mean for transfer pricing…

ICC urges consideration of broader trade implications of tax policies in response to BEPS recommendations (ICC)

The International Chamber of Commerce (ICC) recognises the efforts of an increasing number of tax authorities to revise their tax policies in response to the international guidelines outlined in the G20 mandated OECD Base Erosion Profit Shifting project. ICC urges national governments to seriously consider the broader implications of their proposed measures and strongly recommends an alignment with existing guidelines that would facilitate greater consistency internationally and incentivise cross-border trade, investment and economic growth…

OECD releases discussion draft on the multilateral instrument to implement the tax-treaty related BEPS measures (OECD)

Public comments are invited on technical issues identified in a request for input related to the development of a multilateral instrument to implement the tax-treaty related BEPS measures…

African States Unite Against Illicit Cash Flows (allAfrica)

THE 51st edition of the African Development Bank (AfDB)’s annual meetings came to a close in Zambia’s capital Lusaka last week with the bank making several pronouncements aimed at developing the continent.

One major and candid pronouncement made was the commitment towards combating of illicit financial flows in most developing African states…

As always, please let me know your thoughts.

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