Waiting on the OECD

Politico - Morning Tax

If nothing else, outside groups are preparing for the OECD to roll out more details on the global efforts at a tax overhaul.

For instance, the Independent Commission for the Reform of International Corporate Taxation, which includes groups like Oxfam and the Tax Justice Network, is already pressing the OECD to not let the business community and political pressures water down its efforts. On top of that, the ICRICT said that whatever happens in the current process should just be a first step, “which will require multilateral discussions extending well beyond current process and involving the United Nations system, because it is the only forum where all countries are represented.”

Elsewhere, the Association of International Certified Professional Accountants sent its own nine-page letter to the OECD about Pillar One of the current discussions — essentially dealing with where global business income can be taxed. And the basic gist: The OECD should proceed carefully. “Developing and obtaining international consensus on new rules to tax value may be based on many aspects of existing tax law, and the effect on individuals operating cross-border should be considered,” two officials from AICPA wrote.