Page 29 - Inclusive Framework News Today

Janet Yellen, US Secretary of the Treasury Yellen was voted-in unanimously by the US Senate Finance Committee to replace Steven Mnuchin, who suspended OECD-led talks with other countries on the two-pillar digital tax approach in June 2020. Corporate confidence is high on Yellen restarting negotiations after she stressed that efficient taxation of multinational companies was a priority. “Working in the context of the OECD negotiations on global taxation, we have much greater leverage to keep...

MAP is an integral component of the international tax system On November 18, the OECD released a public consultation document concerning BEPS Action 14, which aims to make treaty-based dispute resolution mechanisms more effective. The consultation document contains a number of proposals that, if adopted, would improve dispute resolution and eliminate some longstanding issues.  In 2015, the Inclusive Framework on BEPS committed to adhere to an Action 14 minimum standard. The minimum standard is...

By Ismaila Chafe Abuja, Jan. 21, 2021 President Muhammadu Buhari has directed the Federal Inland Revenue Services (FIRS) and related government agencies to plug all revenue leakages by ensuring strict compliance of tax payments by foreign companies operating in Nigeria. The president, who gave the directive at the virtual First National Tax Dialogue held at the Conference Hall of the State House, Abuja, also stressed the need for deployment of more digital platforms and seamless connections. Th...

Buhari stresses the need for deployment of more digital platforms and seamless connections between agencies.

The 2021 Plenary Meeting, to be held virtually, will offer representatives from the Inclusive Framework’s 137 members an opportunity to take stock of the unparalleled transformation in international tax policy and administration over the past decade and discuss the key challenges facing the international tax system looking forward. This will include discussions of ongoing multilateral negotiations to address the tax challenges arising from digitalisation of the economy, as well as efforts to ...

“As we might expect, this has led to increase in Nigeria’s debt profile which stood at about N32 trillion in September 2020. This funding gap created by the dwindling government revenue therefore underscores the importance of the national tax dialogue we are holding today. “No nation has ever made progress without having to pay for it or make the necessary sacrifice. I therefore call on all Nigerians to be alive to their tax obligations. This government is strategically restructuring the ...

President Muhammadu Buhari on Thursday directed the Federal Inland Revenue Services (FIRS) and related government agencies to plug all revenue leakages by ensuring strict compliance of tax payments by foreign companies operating in Nigeria, urging the deployment of more digital platforms and seamless connections.

Date Time OECD/G20 Inclusive Framework on BEPS to meet at plenary level on 27 21/01/2021 – The OECD/G20 Inclusive Framework on BEPS will hold its biannual plenary meeting on 27-28 January 2021. The 2021 Plenary Meeting, to be held virtually, will offer representatives from the Inclusive Framework’s 137 members an opportunity to take stock of the unparalleled transformation in international tax policy and administration over the past decade and discuss the key challenges facing the internati...

PRESIDENT Muhammadu Buhari has directed those responsible for the collection of taxes to ensure that foreign companies operating in Nigeria..

President Muhammadu Buhari on Thursday directed the Federal Inland Revenue Services (FIRS) and related government agencies to plug all revenue leakages by