The OECD has made some progress in discussions with the US over the organization’s drive against tax evasion. After a meeting of the OECD’s Forum on Harmful Tax Practices in June, the US expressed its support for some of the proposed measures to combat tax evasion. However, the OECD may need to compromise on some of its demands to win full US support for the initiative
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Ireland’s Department of Finance reported increased income tax, VAT and corporation tax receipts from 2024; in other news, it’s understood that HSBC has agreed to pay the French treasury to settle a tax investigation
The EU has seemingly capitulated to the US’s ‘side-by-side’ demands. This may be a win for the US, but the uncertainty has only just begun for pillar two