Thirty four NGOs, including Tax Research UK, issued a report last Saturday on the next stages needed to be taken by the G20 to tackle international tax abuse:
The report has five key recommendations:
1. The OECD and the G20 should invite developing countries to participate in the BEPS project on an equal footing.
2. The OECD and the G20 should make efforts to strengthen the UN tax committee.
3. The G20 should urge the OECD to follow its own recommendations regarding the duty to analyse the impact of potential tax policies on developing countries.
4. The G20 and the OECD, along with other bodies such as the UN tax committee and the IMF, should work with governments in developed and developing countries, as well as with independent tax experts, to explore alternatives to the arm’s length principle.
5. Governments in the G20 must take additional measures to tackle financial and corporate secrecy.
I'm working most especially on 4, where unitary taxation is my focus, and 5, where country-by-country reporting comes into play, right now.
The G20 will be distracted by Syria this week, and to some extent rightly so, but these systemic issues must not be ignored: tax has a vital role to play in creating justice in the world and that has to continue to be high on the G20 agenda.