Experts Convene at ITIC’s Eurasia Tax Forum

Washington, DC – Fiscal officials from across 10 Eurasian countries met this week with leading academic specialists and private-sector representatives in The Hague, The Netherlands, for the 12th annual “Eurasia Tax Forum” hosted by the International Tax and Investment Center (www.iticnet.org).

The conference focused on a number of economic and tax issues, including Eurasian growth and the “China factor,” fiscal consolidation in a low oil price environment, key tax issues in the Eurasian Economic Union, and how Eurasian countries are adapting to new guidelines related to Base Erosion and Profit Shifting (BEPS).

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ITIC Advisor Speaks at 11th International Energy Conference

ITIC Program Advisor Carole Nakhle participated as a keynote speaker at the 11th International Energy Conference in Tehran, Iran, on 30-31 May.

Her talk preceded a panel discussion that included the following Iranian officials (among others from the private sector): Dr. Amirhosseein Zamani Nia, Deputy Oil Minister; Mr. Mohsen Khojaste Mehr, Ministry of Petroleum; and Mr. Mehdi Husseini, Head of the Oil Contracts Committee.

During her presentation, Dr. Nakhle spoke about the simple yet powerful and dynamic equation of risk-reward whereby investors seek to achieve a balance. She explained the impact of the oil price on investment decision and financing, then argued that government policies can compensate for changes in the oil price. For instance, during periods of low oil prices, an increase in investment is noted in countries where governments modified their fiscal terms favorably towards investors.

While in Tehran, Dr. Nakhle also gave an interview to a local TV station, and held meetings with the Director General and his Deputy at the Ministry of Petroleum, the Iranian National Tax Administration, as well as local experts.

Kazakhstan: Tax Update

Tax and Customs Code Unification

During a press briefing last week with visiting IMF Managing Director Christine Lagarde, Kazakh Prime Minister Karim Massimov stated that the Kazakh Government does not intend to speed up the work on unifying the Tax and Customs Codes, noting that, “We have developed a new Tax Code, which is likely to be aligned with the Customs Code. Initially we planned to have come up with concrete decisions this year, but now we have decided that we need about one year to make a final decision.”
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