OECD releases outcome of
"Fast-Track review process" to assess transparency standards of
countries in the run-up to the G20 Summit scheduled on July 7-8; OECD
states that "The latest results of the Fast Track review show that
progress has now been made by most jurisdictions in meeting the
international tax transparency standards"; Only one jurisdiction,
Trinidad and Tobago, rated as “Non-Compliant” against the Exchange of
Information on Request (EOIR) standard, while six jurisdictions viz.
Anguilla, CuraƧao, Indonesia, Marshall Islands, Sint Maarten, and Turkey
have been rated as “Partially Compliant”; OECD Release says "In the
last 15 months, the significant changes made by jurisdictions towards
meeting the EOIR standard have led to upgrades in the overall ratings of
17 jurisdictions..."; Panama and the United Arab Emirates have
received upgraded rating of 'Largely Compliant'; OECD clarifies that the
outcome of the "fast-track review" is a provisional rating and
the jurisdictions which have received improved provisional ratings will
undergo a full peer review under the second round of reviews; India has
been rated as "compliant" while countries like Singapore,
Mauritius, Cyprus, Liechtenstein, Luxembourg have been rated as
"Largely Compliant" in the first round of Global Forum reviews;
NGO Tax Justice Network sharply criticises the OECD announcement as undermining
the progress that has been achieved over the last few years, terms it
" disheartening to see the OECD fall back into the old pattern of
creating ‘tax haven’ blacklists on the basis of criteria that are so weak as to
be near enough meaningless..."
Subscribe to:
Post Comments (Atom)
Deferred Customs Duty for Manufacturers: EMI Scheme Takes Effect from 1 April 2026
In a significant move to ease working capital pressures for manufacturers, the Central Board of Indirect Taxes and Customs (CBIC), vide Ci...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
Section 68 -Cash credits Section 69 -Unexplained investments Section 69A - Unexplained money, etc Section 69B -Amount of investme...
-
An eminent concern within the GST framework pertains to the entitlement of Input Tax Credit (ITC) concerning expenditures associated with In...
-
The overall effective tax rate of a U.S. multinational corporation may have significant impact on the value of its stock. Therefore, it ...
-
There are certain changes in India's tax rules for TDS on payments made to non-residents. The Income Tax Act, 2025 ('ITA 2025'...
-
Recent judicial pronouncements across different forums have clarified several important aspects of Indian income tax law, particularly relat...
-
The posting had been move to another website. Please click the link below to get the access of the same. https://taxofindia.wordpress....
-
Ahmedabad Tribunal Special Bench has ruled that corpus distributed on dissolution of an offshore discretionary trust to resident Indian be...
-
Did you come across many errors and mistakes while checking your CIBIL report status? Are you wondering how to clear yourself out of CIBIL ...
-
The Income Tax department has been modified the Form No. 15G & 15G as per amended notification No. 11/2013 [F.NO.142/31/2012-SO(TPL)]/...
No comments:
Post a Comment