The OECD’s Global Forum conducted a (confidential) first-stage evaluation of the laws of countries that want to participate in the system to assess whether they are ready to do so. Now, the Global Forum is working on a terms of reference to assess countries once automatic exchanges are in place, to make sure they comply with the international standard called the Common Reporting Standard (CRS).
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Today the Plateforme de Protection des Lanceurs d’Alerte en Afrique (PPLAAF) will be officially launched during a press conference in Dakar. We’re sharing the details with you here:
The OECD’s new terms of reference to assess the implementation by countries of BEPS Action 13 related to Country-by-Country Reports (CbCR) may penalise countries, especially developing ones, that try to obtain by their own means the CbCR’s valuable data needed to tackle multinational tax avoidance.
Country-by-Country Reports (CbCR) (to be prepared by multinationals with group revenues over EUR 750 million) will offer information on multinational economic activity, profits and tax paid broken down for each country where they operate. This CbCR “map” will reveal any misalignments between the location of real activity, and where profits are ultimately declared to hold both multinationals and tax havens to account.