dfjfsvjof

OECD calls for global tax crackdown to stop corporate loopholes that give

PARIS — The Organization for Economic Co-operation and Development says large multinationals are using legal loopholes to avoid paying their fair share of taxes and that global solutions are needed to combat the problem.The OECD report says many rules designed to protect multinational corporations from being double-taxed go too far and sometimes allow them to pay no taxes at all.[np_storybar title=”Yahoo joins Google, other corporate giants in US$13-trillion Netherlands tax haven” link=”https://business.financialpost.com/2013/01/23/yahoo-joins-google-other-corporate-giants-in-us13-trillion-netherlands-tax-haven/”%5DBy routing profits through the Netherlands en route to island havens, companies receive an important benefit: they generally don’t have to pay taxes on payments leaving or entering the country.Keep reading. [/np_storybar]It says such rules do not properly reflect today’s economic integration across borders, the value of intellectual property or new communications technologies.The G20 countries commissioned the OECD study, which was released Tuesday ahead of a weekend meeting of finance ministers and central bankers from 20 of the world’s leading economies.The OECD says the gaps that enable multinationals eliminate or reduce their taxation give them an unfair competitive advantage over smaller businesses.That hurts investment, growth and employment and can leave average citizens footing a larger chunk of the tax bill, the OECD says.“These strategies, though technically legal, erode the tax base of many countries and threaten the stability of the international tax system,” OECD Secretary General Angel Gurria said Tuesday in releasing the study.“As governments and their citizens are struggling to make ends meet, it is critical that all taxpayers — private and corporate — pay their fair amount of taxes and trust the international tax system is transparent.”The OECD said the practices multinational enterprises use to reduce tax liabilities have become more aggressive over the last decade.“Some, based in high-tax regimes, create numerous offshore subsidiaries or shell-companies, each time taking advantage of the tax breaks allowed in that jurisdiction,” it said.“They also claim expenses and losses in high-tax countries and declare profits in jurisdictions with a low or no tax rate.”The report does not suggest optimal tax rates, since each government decides that on its own.However, the OECD said that in coming months it will draw up a plan in co-operation with governments and the business community that will further quantify the corporate taxes lost and provide concrete methods and timelines for reinforcing the integrity of the global tax system.The OECD, with headquarters in Paris, is a global economic policy forum that provides analysis and advice to its 34 member governments and other countries worldwide. read more

gfcysioxd

Evolving peacekeeping landscape requires stronger globalregional partnership Security Council told

Participants at Security Counicl meeting on Regional Organizations and Contemporary Global Security Challenges. UN Photo/Rick Bajornas ‹ ›“In recent years, we have seen how practical cooperation among the United Nations, the African Union and the European Union has enhanced progress in Africa. Now we need to build on this trilateral cooperation and boost our collective ability to manage, plan and execute peace operations,” Mr. Ban reminded.Different forms of engagement with other organizations proved equally successful, he said, including the Association of Southeast Asian Nations (ASEAN), the Collective Security Treaty Organization (CSTO), the League of Arab States (LSA), North Atlantic Treaty Organization (NATO) and the Organization for Security and Co-operation in Europe (OSCE).“The Panel recommends that we deepen the strategic UN-AU partnership. I fully agree. Almost two thirds of our peace operations and nearly 90 per cent of our uniformed peacekeepers are deployed in Africa,” insisted the Secretary-General.The report also calls for greater support to Security Council-authorized African Union peace operations, the experts recommending that the UN enable regional organizations to share the burden in accordance with the UN Charter.“Toward that end, I draw attention to the Panel’s call for more predictable financing, including through the use of UN-assessed contributions,” Mr. Ban observed, while emphasizing other important forms of support, like planning processes, logistical packages, UN-managed trust funds and access to all UN expertise, systems, materiel and services.“The UN’s broad support for the AU and Economic Community of West African States (ECOWAS) also includes political cooperation – which is difficult to quantify but still highly valuable.”Joint efforts have made a meaningful difference, he continued, in defusing tensions and supporting the transition in Burkina Faso, encouraging political dialogue ahead of elections in Guinea, resolving the electoral crisis in Kenya and ending a political deadlock in Madagascar through a Southern African Development Community (SADC) Roadmap, among other engagements.“We have succeeded in dramatically enhancing our partnerships. We have come to rely on each other in critical times. We will continue to advance progress,” assured the UN chief. “At the same time, regional organizations should continue contributing to United Nations peace and security efforts. We count on them for political leverage as well as civilian and military capacities,” Mr. Ban told the Security Council, during an open debate on the subject of regional organizations and contemporary global security challenges.Noting that cooperation with regional and sub-regional organizations have gained “greater influence” in recent years, partly because of the changing nature of conflicts, Mr. Ban explained that a number of aggravating factors prompted him to request a fresh review of UN peace operations.“Urbanization, unemployment and population movements, including massive displacement, are increasing dramatically. Technological advances in warfare, including cyber threats, pose grave dangers to civilians. And against this shifting security landscape, the United Nations is deploying into fragile and remote environments with little peace to keep.”The Secretary-General said that he is now analyzing the report of the High-level Independent Panel on Peace Operations to identify the recommendations the Organization can carry out “immediately” – and those that will require action by legislative bodies, Member States and partners.One of these recommendations is a “stronger global-regional partnership” to ensure that the Security Council can draw on a “more resilient and capable network of actors,” he underlined. read more