The new group set up as a technical advisory body to the International Accounting Standards Board (IASB) will consist of members from 12 accounting standard-setters around the world, including the Financial Accounting Standards Board in the US.
Pascal Saint-Amans, the OECD’s chief tax official, has said the organisation’s action plan on base erosion and profit shifting will give a sense of direction, rather than come up with a set of rules for changing how multinational businesses are taxed.
The UK government has changed its stance today on proposals that, from April 1 2013, would have required taxpayers to prove they have been tax compliant for 10 years before they could be awarded government contracts.
The UK expects to recover £1 billion ($1.5 billion) from new tax reporting measures, including automatic exchange of information, agreed with its Crown Dependencies of Guernsey, the Isle of Man and Jersey.
Li Ying is tax director – transfer pricing for North East Asia for Siemens, based in Beijing, and one of the speakers at International Tax Review’s Asia Tax Forum in Singapore in May. Here she talks about the issues that are taking up her time, how transfer pricing in Asia Pacific can be different to the rest of the world and the one change that would make her life easier.
