The OECD today delivered the second part of its recommendations to reform international tax rules by tackling base erosion and profit shifting (BEPS). While unanimity across all points discussed was impossible, a higher level of agreement - either in the form of consensus or agreement on 'minimum standards' - has been achieved than many expected, though this has not stopped non-governmental organisations (NGOs) from criticising the package as "a sticking-plaster approach".
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Fears that advisers would have to disclose sensitive mental health information to prospective clients were addressed, but Australian tax bodies still harbour worries
Partners in EY’s tax advisory practice have also reportedly been dismissed; in other news, PwC has lost another Chinese auditing client in the wake of the Evergrande matter
Labour’s anticipated plans to reform the UK’s corporation tax regime presents a timely opportunity, a debate featuring former UK Treasury minister David Gauke heard last night
The masterminds behind an ‘unusual’ advertisement launched by six Australian tax associations against controversial ethical rules won’t reveal the campaign’s costs
The full-page advertisements are running ahead of a key summit with the government on Friday, but ITR understands some professional bodies see the campaign as counterproductive