Experts Convene at ITIC’s Middle East/North Africa Tax Forum

iticlogocolorhighresolution4 Washington, DC – Regional tax administration officials, business leaders and tax experts convened this week in Ankara, Turkey, for the seventh annual Middle East/North Africa Tax Forum hosted by the International Tax and Investment Center, in cooperation with the Revenue Administration of the Turkish Ministry of Finance.

The meeting focused on regional tax policy challenges; global tax policy initiatives and practical responses from the MENA region; tax administration automation, innovation and performance improvement; and the application and enforcement of regional indirect and direct taxation policy.

During his opening remarks, Adnan ERTÜRK, Commissioner of the Turkish Revenue Administration, discussed the increasing importance of direct and indirect taxation for fiscal systems in the MENA region, the role of multinational corporations in fostering regional economic growth, and the importance of strong cooperation between tax authorities.

The Middle East/North Africa Tax Forum is an annual conference organized by ITIC to bring together regional government officials, academic experts and investors to discuss solutions to common challenges and share best practices in taxation.

Contact: Diana McKelvey (Communications Manager, ITIC)

Dave Camp Joins ITIC as Honorary Co-Chairman

iticlogocolorhighresolution4 Washington, DC - The International Tax and Investment Center (ITIC) is pleased to announce that the Hon. Dave Camp, former Chairman of the Committee on Ways and Means in the U.S. House of Representatives, now a senior policy advisor with PwC, has joined its Board of Directors as an Honorary Co-Chairman.

Chairman Camp brings to ITIC an extensive tax policy background and valuable insight on the global business environment. His role with ITIC will allow him to pursue his strong interest in international tax and trade issues and offer his perspective on complex tax policy in transition economies around the world.

In announcing the appointment, ITIC President Daniel Witt commented, “We are delighted to have a leader of Dave Camp’s caliber join our Board of Directors as an Honorary Co-Chairman, and we look forward to sharing his expertise on tax policy with interested stakeholders around the world.

As Chairman of the U.S. House Ways and Means Committee, Camp was a leader on tax policy, international trade, and fiscal policy issues. His Tax Reform Act of 2014 (later known as “The Camp Proposal”) is widely recognized as a foundation for future business and international tax reform.

Camp sees the opportunity to work with ITIC as a way to bridge his personal and professional interests in economic development and tax issues in developing economies, remarking that, "I'm delighted to join with ITIC in the furtherance of its continuing mission to assist developing nations in their quest to participate fully in the world economy.  There is so much to be done and many lives that can be improved through such international economic cooperation."

Founded in 1993, ITIC is a Washington-based nonprofit research and educational organization promoting tax reform and public-private efforts to improve the investment climate in transition and developing economies. The organization works closely with ministries of finance, customs services and tax authorities in 85 countries, as well as international and regional financial institutions engaged in tax policy and tax administration issues.

Contact: Diana McKelvey (Communications Manager, ITIC)

Azerbaijan: Update on WTO Accession

The Working Party on Azerbaijan’s accession to the World Trade Organization (WTO) met in Geneva on 22 July and expressed hope that the accession negotiations (which began in 1997) would be completed in the near future. During the Working Party meeting, Azerbaijan’s chief negotiator discussed:

  • The adoption of a national strategic roadmap to diversify Azerbaijan’s economy and tackle the challenges caused by the decline in oil and gas prices.
  • Azerbaijan’s commitment to enact all possible measures and intensify the accession process.
  • New legislative developments, including the adoption of an anti-dumping law, safeguards and countervailing measures (entering into force 90 days after promulgation on 15 July 2016).
To assist in analyzing Azerbaijan’s compliance with the WTO’s foreign trade rules, the Working Party sought clarification on a range of issues including: taxation, customs valuation, trade-related investment measures, privatization plans, IPR, technical regulations and standards, trade in services, and agricultural support.The Working Party invited Azerbaijan to submit written replies to members’ questions, an updated Legislative Action Plan, and copies of relevant draft and adopted legislation. It also encouraged intensification of related bilateral market access negotiations.The Working Party aims to meet next in early 2017.

Report on the G20 Meeting of Finance Ministers and Central Bank Governors

ITIC regularly monitors the G-20 Meeting of Finance Ministers and Central Bank Governors. The group met on 22-23 July 2016 in Chengdu, China. Please see the link to Bloomberg News for the full text of the communique that was issued on 24 July. A number of key fiscal issues that are of interest to ITIC’s sponsors – and relevant to our programs, working groups, and regional tax forums – were discussed. In particular:

  • Point 3, which emphasizes the need to “foster confidence and support growth.” The ministers also discussed “making tax policy and public expenditure more growth-friendly.”
  • Point 6, which discusses the 2030 agenda for sustainable development, including the importance of the multi-lateral development bank’s investment priorities to “catalyze private investment.” You might recall that “increasing private sector investment by MNCs” is one of the sustainable development goals.
  • Point 10, which addresses the G-20/OECD inclusive framework on BEPS. In particular, it points out the “timely, consistent, and widespread implementation of the G-20/OECD BEPS package and … specific challenges faced by developing countries.” This is among the reasons why ITIC includes sessions on BEPS at each of our regional tax forums. We believe it’s important to discuss BEPS in the context of each country’s investment climate as well as their domestic revenue mobilization objectives.
The G-20 acknowledged “the establishment of the new Platform for Collaboration on Taxation by the IMF, OECD, and UN, and their recommendations on mechanisms for effective technical assistance in support of tax reforms.” ITIC will continue to work with each of these institutions as we have in the past. This includes participation by a combination of these organizations at our regional tax forums.

  • Point 11, which recognizes the importance of the “role of tax policies in our broader agenda on strong, sustainable, and balanced growth…” We are pleased to see they concluded this point by asking “the OECD and IMF to continue working on the issue of pro-growth tax policies and tax certainty.”
  • Point 13, which reinforces ITIC’s work on combating the illicit trade of excisable goods as well as our cooperation with the OECD Taskforce on Combatting Illicit Trade by recognizing FATF’s progress in its new “Consolidated Strategy on Combating Terrorist Financing.”
While taxes continue to play a significant part of the G-20 Finance Ministers and Central Bank Governors agenda, we are pleased to see the repeated references for more growth friendly policies and tax certainty. We are hopeful that the actions identified by the G-20 will succeed in their quest to “foster confidence and support growth.”

ITIC Signs Cooperation Agreement with Vietnam Tax Consultants Association

vtca On 25 July in Hanoi, the Vietnam Tax Consultants’ Association (VTCA) and the International Tax and Investment Center (ITIC) signed an agreement to cooperate on joint programs in Vietnam and ASEAN to advance common research and educational missions as nongovernmental organizations (NGOs). The fundamental aim of the joint programs is to foster mutual understanding and trust between government agencies and taxpayers.

  • VTCA and ITIC will jointly organize educational programs, such as workshops, seminars and conferences, which bring together academic experts, Vietnamese public-sector stakeholders, and taxpayers.
  • VTCA and ITIC will undertake joint research and publications on a variety of investment issues, tax policy best practices and tax administration reforms.
  • ITIC and VTCA will collaborate to develop tax policy and administration capacity-building programs for Vietnamese and ASEAN officials.

The VTCA featured the signing of the agreement on their website. Several Vietnamese tax and business publications also reported on the agreement: