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ITR Winter Issue 2022: Editorial

Ed's note Winter Issue 2022 top 50

ITR's latest quarterly PDF is now live, leading on the Global Tax 50 2022.

Much as Christmas seems to roll around faster every year, so does our list of the Global Tax 50, a selection of which appears in the cover story of this PDF. For those lucky enough to feature, you might even say “it’s the most … wonderful tiiimmmeee … of the yeeeaaarrr”.

Jokes aside, the people we profile must have done something truly influential, so their inclusion is genuinely something to celebrate. It’s never an easy task sifting through and agreeing on all the names, but it’s always a team effort and it really gets us thinking.

The full list is split into five categories – tax authorities; industry leaders; NGOs; noteworthy individuals; and public officials – and includes a profile for each entry.

It would be impossible to sum up the tax highlights of 2022, but, if one thing stood out, it would be the recent powerplay from the UN to seize control of global tax responsibility from the OECD.

The Paris-based organisation has long been the supreme intergovernmental body for tax policy, but in November the UN made a bold move that lays the groundwork for a new tax convention. This could even lead to the creation of global tax institutions and cooperation frameworks or instruments.

It comes at a time when progress on pillars one and two, which were agreed by the OECD, appears to have ground to a halt (though, in December, EU member states achieved a historic breakthrough by agreeing to implement the OECD’s global corporate minimum tax rate of 15% across the bloc).

Perhaps that’s exactly why the UN has sought to seize its opportunity now, while the future of the two-pillar solution remains unclear.

Whatever you do in 2023, make sure you’re following developments in this space – we’re going to be in for a fascinating watch.

In the meantime, you can catch up on all the usual expert analysis and local insights in this issue. And of course, we wish you a merry Christmas and a happy new year.

Read the ITR Winter Issue 2022 here

more across site & bottom lb ros

More from across our site

Lawmakers have up to 120 days to decide the future of Brazil’s unique transfer pricing rules, but many taxpayers are wary of radical change.
Shell reports profits of £32.2 billion, prompting calls for higher taxes on energy companies, while the IMF has warned Australia to raise taxes to sustain public spending.
Governments now have the final OECD guidance on how to implement the 15% global minimum corporate tax rate.
The Indian company, which is contesting the bill, has a family connection to UK Prime Minister Rishi Sunak – whose government has just been hit by a tax scandal.
Developments included calls for tax reform in Malaysia and the US, concerns about the level of the VAT threshold in the UK, Ukraine’s preparations for EU accession, and more.
A steady stream of countries has announced steps towards implementing pillar two, but Korea has got there first. Ralph Cunningham finds out what tax executives should do next.
The BEPS Monitoring Group has found a rare point of agreement with business bodies advocating an EU-wide one-stop-shop for compliance under BEFIT.
Former PwC partner Peter-John Collins has been banned from serving as a tax agent in Australia, while Brazil reports its best-ever year of tax collection on record.
Industry groups are concerned about the shift away from the ALP towards formulary apportionment as part of a common consolidated corporate tax base across the EU.
The former tax official in Italy will take up her post in April.