IMF Considers Fiscal Policies for Innovation and Growth

The IMF’s Fiscal Monitor April 2016 (“Acting Now, Acting Together”) looks at fiscal policies for innovation and growth. Fiscal policy can promote growth in productivity by encouraging innovation.

The global recovery is slowing and fiscal risks are rising. Public debt ratios are being revised upward and the largest revisions are in emerging market and middle income economies. Commodity exporters, including the oil exporters of the Middle East and North Africa, have been hit hard, and advanced economies have high levels of public debt, low inflation and sluggish growth. Continue reading “IMF Considers Fiscal Policies for Innovation and Growth”

Azerbaijan: April Tax and Investment Update

Further to our February update, below is a summary of ongoing debates and tax developments in Azerbaijan.

In late February, the Parliament confirmed the “package” of investment-promoting preferences and exemptions valid over seven years in respect of PIT/CIT/VAT/Property & Land Taxes, as well as Customs Duties, for entities and individuals granted an Investment Promotion Certificate (IPC). Continue reading “Azerbaijan: April Tax and Investment Update”

ITIC-Endorsed Event: Transfer Pricing Excellence 2016

ITIC is pleased to be a supporting partner for the Axiom Groupe’s upcoming conference, Transfer Pricing Excellence 2016, to be held on 19-20 May 2016 in Barcelona, Spain.

The conference will focus on:

  • Framework of the recent BEPS Developments
  • Taxation of Dividends and Interest: Preparing for Changes in
  • Various Jurisdictions
  • Working with External Tax Services Providers
  • Understanding Transfer Pricing issues related to Financial
  • Services Transactions
  • Effective Implementation of Centralisation of Activities
  • Advanced Transfer Pricing Negotiation and Dispute
  • Resolution Strategies
  • Scrutinising Cross Border Loss Utilisation Regimes
  • Transfer Pricing Aspects of Intangibles
  • Implementing End to End Transfer Pricing Execution
  • Transfer Pricing Negotiation & Dispute Resolutions Strategies
  • Business Reorganisation & Restructuring
  • Multi Country Transfer Pricing – Compliance with BEPS

Tax Administration Challenges in Developing Countries

Dave Hartnett is former Permanent Secretary for Tax of Her Majesty’s Revenue and Customs in the United Kingdom and currently serves on ITIC’s Board of Directors. The commentary below is excerpted from remarks he recently delivered at an ITIC Diplomatic Dialogue luncheon in the House of Lords in London.

The development of an effective, honest, knowledgeable, and trusted tax administration is crucial and a top priority for developing countries worldwide. Tax administration must be free of corruption and able to address all the challenges that come its way. These challenges may involve tax collection, management of taxes and duties at borders, introduction of an effective Value Added Tax or sales tax, and administration of developing law.  Continue reading “Tax Administration Challenges in Developing Countries”