Jaitley signs OECD tax-treaty convention in Paris today
The Dollar Business Bureau India today signed the OECD multilateral convention that aims to check cross-border tax evasion by multinational companies. The Finance Minister, Arun Jaitley signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting in Paris. More than 65 countries, including India, signed the convention. More countries are expected to sign in coming days, a finance a finance ministry statement said. "The Convention will modify India's treaties to curb revenue loss through treaty abuse and base erosion and profit shifting strategies by ensuring that profits are taxed where substantive economic activities generating the profits are carried out and where value is created," the statement added. The Multilateral Convention is an outcome of the OECD/G20 Project ...
Jaitley to visit Paris on June 7, sign OECD convention on tax evasion
The Dollar Business Bureau Finance Minister Arun Jaitley will be travelling to Paris to sign the multilateral convention of Organisation for Economic Cooperation and Development (OECD), next week. The convention is aimed at checking cross-border evasion of taxes by multinational companies (MNCs). During the 3-day visit beginning June 7, the Finance Minister will also join the Ministerial Council Meeting, which will be attended by ministers from OECD countries and other partner countries to deliberate upon issues of global importance. Earlier this month, the Union Cabinet had given the approval for signing the OECD’s multilateral convention. The convention is a result of the base erosion and profit shifting (BEPS) project between OECD and G-20, to tackle what is used by MNCs via tax planning strategies by abusing ...
WTO makes Trade Facilitation Agreement Facility operational
The Dollar Business Bureau (Pic. Source - WTO) The World Trade Organisation (WTO) has advanced the date to find a permanent solution on public stockholding and food security programmes from 2017 to December 31, 2015, and has made the Trade Facilitation Agreement (TFA) Facility operational. At a meeting of the General Council yesterday, Roberto Azevêdo, Director-General, WTO, congratulated the 160 members for adopting decisions related to public stockholding for food security programmes, the TFA and the post-Bali work. He said, “WTO work is back on track.” Three decisions were arrived at the General Council meeting. The first decision was about finding a permanent solution on public stockholding for food security purposes by 31 December 2015. Members have also ...
