The BRICS countries’ (Brazil, Russia, India, China and South Africa) tax authorities have agreed to exchange information to strengthen their tax systems, including India helping South Africa to implement an advance pricing (APA) regime.
The Extractive Industries Transparency Initiative (EITI) standard, which requires companies in the extractive industries to disclose what they have paid in taxes and governments to disclose what they received, is to be strengthened.
The BRICS countries' (Brazil, Russia, India, China and South Africa) tax authorities have agreed to share information to strengthen their tax systems, including India helping South Africa to implement an advance pricing (APA) regime.
Taxpayers at the Developing a Tax Environment for Growth and Competitiveness conference in Vienna last week said, striking a balance between attracting investment and bringing in revenue is difficult to achieve because it is often based on undefined underlying assumptions.
Speaking at a conference in Austria last week, Jeffrey Owens, the former OECD tax chief, noted that income inequality has grown in the large majority of OECD countries in the last two to three decades, and that tax policy can have a profound impact on this trend, though he warned against a one-size-fits-all solution.
