Mexico was the only country to be rated fully compliant with international tax transparency standards out of ten jurisdictions that were issued ratings by the Organisation for Economic Cooperation and Development on August 8, 2014.
On August 4, 2014, the Organization for Economic Cooperation and Development's Global Forum on Transparency and Exchange of Information for Tax Purpose published peer review reports and compliance ratings for a new batch of jurisdictions.
French President and Co-Prince of Andorra François Hollande praised
the Andorran Government's decision to open up the nation's economy
and reform the tax system in the wake of the financial crisis during a recent
visit to the Principality.
Despite an ongoing reform of the Andorran tax structure and efforts to diversify the economy, international ratings agency Standard and Poor's
has attached a negative outlook to Andorra's A-/A-2 long- and short-term
sovereign credit ratings.
Andorran Finance Minister Jordi Cinca has provided further clarification on provisions
contained in the Government's bill, providing for the introduction of a
tax on individual income in Andorra.
Andorran Prime Minister Antoni Marti has held talks with European Tax Commissioner
Algirdas Šemeta, with the discussions focusing on the adopted mandate of the
European Council of Ministers regarding negotiations with third countries on
extending the savings tax directive, to close loopholes.
A meeting between French President François Hollande, President of the Andorran parliament Vicenç Mateu Zamora and Head of the Andorran Government Antoni Marti at the Elysée Palace in Paris, discussed a new comprehensive DTA between France and Andorra.
The ACT New Zealand Party, a member of the country’s present coalition government,
has continued its opposition to New Zealand’s new carbon emissions trading
scheme, calling it a tax that will increase inflation in the economy.
Hong Kong’s Financial Secretary, John C Tsang, made the traditional post-budget
speech at the Joint Business Community Luncheon on March 12 and, in particular,
reviewed the tax measures taken to increase the transaction cost of property speculation
so as to reduce the risk of a property bubble being created.
After a government meeting, Malaysia’s Second Finance Minister, Datuk Seri
Ahmad Husni Hanadzlah, has rejected any suggestion that the proposed introduction
of a goods and services tax has been cancelled.
Following indications that the Australian government was thinking of a delay to
the release of the Henry tax review, the Treasurer, Wayne Swan, has now confirmed
that it will be issued in good time for a full debate on any proposed tax changes.
Egyptian telecom company, Orascom Telecom, has announced that its Algerian subsidiary,
Orascom Telecom Algérie, has received a rejection to its appeal,
made in December last year, against the notice for taxes and penalties it had
received from the Algerian tax authorities the month previously.
It has recently emerged that Switzerland and Slovakia have initialled a revised
bilateral double taxation agreement, containing the Organization for Economic
Cooperation and Development’s standard on tax information exchange.
The US Internal Revenue Service has announced several additional steps
it is taking this tax season to help people having difficulties meeting
their tax obligations because of unemployment or other financial
Jersey will overcome the evolving challenges being faced by offshore international
financial centres, Geoff Cook, Chief Executive of Jersey Finance, told participants
at a Breakfast Briefing in London.
Governments must now gear their economies towards jobs, international competitiveness
and increasing the tax-take, the Organization for Economic Cooperation and Development has said in its latest ‘Going for
Growth’ report, analyzing the next step for recovering economies.