The official launch of the Tax Inspectors Without Borders (TIWB) programme has come at a time when tax collection could not have a higher profile as a means of helping developing countries generate their own resources rather than rely solely on aid from richer countries.
India and the US have signed an intergovernmental agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA), which was passed by the US in 2010.
The Financial Accounting Standards Board (FASB) voted on July 9 to approve a one-year deferral of the effective date of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers.
The OECD, and the Global Forum on Tax Transparency and Exchange of Information, which it organises, have moved to assert their preeminence as the international bodies that discuss and decide on transparency and exchange of information standards. The OECD's Pascal Saint-Amans and Monica Bhatia have described as "very unfortunate" the publication by the EU Commission of a list of the top 30 non-cooperative jurisdictions blacklisted by EU member states.
Justin Woodhouse has become the sole head of PwC's tax team in the Channel Islands after the retirement of predecessor Wendy Dorman at the end of June.
