The European Union on 5th December, 2017 published the first list of non-cooperative jurisdictions that have failed to meet the EU standards on tax transparency. CATA member countries are among the 17 jurisdictions that have appeared in the EU ‘black list’ following a compliance review based on the EU standards on tax transparency. The listing comes hot on the heels of the recently released Paradise Papers that highlighted how certain jurisdictions are being used to facilitate aggressive tax planning, tax evasion, and other illicit financial activities.
To meet the EU standards in tax transparency, a jurisdiction must:
(i) Have achieved a ‘Largely Compliant’ status under the G20/OECD tax transparency standards;
(ii) Have in place ‘fair taxation’ system i.e. no harmful tax practices; and
(iii) Have committed to the BEPS implementation i.e. membership of the ‘Inclusive Framework’.
The affected CATA countries include
(Scenes from the 2017 TOIT which ran between 7 - 25 August)
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This year marked an important milestone in the development of the capacity building programme for CATA as the final edition of the Workshop on Taxation of International Transactions (TOIT) concluded on 25 August 2017. After 21 years of successfully running and benefitting many of our CATA members, next year, a new edition of TOIT will be introduced.
Taking into consideration the developments in
The International Tax and Investment Centre (ITIC) Board has adopted a resolution to immediately sever links with tobacco companies. In a resolution of a special committee of the Board, ITIC resolved that it will no longer accept sponsorship from tobacco companies. Further, no representative from tobacco firms will serve on its Board. According to