25 June 2021

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Featured Article

G20 Draft Communique Signals Endorsement of Global Minimum Tax: Earlier this week, Reuters reported that the G20 finance ministers are set to endorse the "core elements of the two pillars on the profit reallocation of multinational enterprises and the global minimum tax as set out in the statement released by the G20/OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS),” according to the draft communique for the upcoming G20 finance ministers meeting obtained by Reuters. With the meeting set for July 9-10, the draft communique calls on the "G20/OECD Inclusive Framework on BEPS to swiftly finalize the remaining technical work with a view to approving the framework for implementation of the two pillars by our next meeting in October.” [More Information via MNEtax.com]

IMF Update

• IMF Blog Post: A Proposal to Scale Up Global Carbon Pricing

• IMF Staff Paper: Proposal for an International Carbon Price Floor Among Large Emitters

• Speech by IMF Managing Director Kristalina Georgieva: The Road Ahead for Africa—Fighting the Pandemic and Dealing with Debt

• IMF Mission Updates: Over the past week, the IMF released mission updates for Azerbaijan, Croatia, Curaçao and Sint Maarten, Egypt, Kosovo, Mauritius, Serbia, Slovak Republic, and Togo.

New OECD Publications

• Model Reporting Rules for Digital Platforms: International Exchange Framework and Optional Module for Sale of Goods

• VAT Digital Toolkit for Latin America and the Caribbean

• New peer review reports: Antigua and Barbuda, Argentina, the Russian Federation, South Africa and Ukraine. [More Information]

• Tax Inspectors Without Borders: statement of outcomes

Notable New Releases & Articles

• World Investment Report 2021, United Nations Conference on Trade and Development

• Towards WCO Modernization: Reforming the World Customs Organization, European Union [More Information]

• Governments must nurture corporate optimism for a sustained recovery, Oliver Jones, EY

• Developing Countries and the Tax Treaties Myth, Nana Ama Sarfo, Tax Notes

• 2021 IOTA Forum on Implementation of Measures to Counter BEPS, Intra-European Organisation of Tax Administrations

Country Updates

• Argentina Simplifies TP Reporting via MNEtax.com

• Chile Tax Updates

  • Withholding tax rate rates via EY Global Tax News

  • VAT compliance evaluations on foreign service providers via EY Global Tax News

• New TP Rules in Jordan via EY Global Tax News

• Mexico Tax Developments:

  • Labor reform via ITR

  • New effective tax rate list via EY Global Tax News