31 Countries Sign Agreement on Country-by-Country Tax Reporting of MNE

During a ceremony on Wednesday, 27 January 2015, 31*countries signed the Multilateral Competent Authority Agreement (MCAA) for the automatic exchange of Country-by-Country reports. This signing is set to strengthen cross-border taxation wand marks a major step in the implementation of the OECD/G20 BEPS Project. >>


Study on tax policy in high evasion countries - Evidence from Pakistan

Textbook theory on optimal taxation of companies states that authorities must set taxes in a way they are production-efficient. A recently released paper challenges this theory in the context of developing countries, arguing that optimal taxation theory is designed for developed countries with fully established revenue authorities. Optimal solutions for developing countries may deviate. With evidence from Pakistan, the authors show how inefficient taxation from a theoretical point of view may prove to be worthwhile. >>


PEFA Partners announce upgraded Framework and PEFA conference dates for 2016

The Public Expenditure and Financial Accountability (PEFA) Program announced an upgrade of its Framework for February 2016. Additionally, the program made details public to its conference in Istanbul, Turkey in April this year. >>


Study Finds: Lowering the Marginal Tax Rate Reduces Annual GDP Growth

In a working paper, Nikolay Anguelov of the Department of Public Policy, University of Massachusetts, Dartmouth, assesses the effects of changing the marginal corporate tax rate on FDI and GDP. Analysing 60 countries over the time span of 1999-2009 he finds that lowering the marginal corporate tax rate increases FDI but decreases GDP. The findings contribute to the ongoing discussion on the race to the bottom of tax havens and contradict the arguments of MNCs who demand lower taxation for corporations to achieve higher growth in industrialised countries. >>


Institute for Austrian and International Tax Law offering multiple courses on international taxation issues

For the upcoming year the Institute for Austrian and International Tax Law of the Vienna University of Economics and Business (WU) announced a total of four courses in the field of international taxation, tailored to the needs of tax practitioners. >>

OECD Publication - Governance Notebook


OECD Publication - Governance Notebook

Working as a governance advisor can be a challenging job. Theory and practice are two totally different pair of shoes. Designing change processes, agreeing on mutual goals with partners, adapting projects activities to changing environments – to name just a few – are complex tasks. The OCED publication „A governance practitioner’s notebook“ is exactly dealing with this topic by introducing Lucy, a fictitious newly inducted governance advisor, in a virtual development agency. >>


Ernst Mach Worldwide - Call for Scholarships for Academic Year 2016-17

The Ernst Mach Worldwide Grants, awarded by the Austrian Exchange Service (OeAD-GmbH) on behalf of and financed by the Austrian Federal Ministry of Science, Research and Economy (BMWFW) and the EU are calling for applications for research grants for research in Austria within the academic year 2016-2017. >>

GFI releases report: "Illicit Financial Flows from Developing Countries: 2004-20013"


GFI releases report: "Illicit Financial Flows from Developing Countries: 2004-20013"

On Tuesday, 8th December, Global Financial Integrity (GFI) released their latest report on Illicit Financial Flows (IFFs) from developing countries. Titled “Illicit Financial Flows from Developing Countries: 2004-2013”, the report estimates the sum of IFFs leaving developing countries in the named time frame at USD 7.8 trillion. It gives a country-by-country ranking on outflows and reveals how the annual amount of IFFs has been increasing steadily, surpassing USD 1 trillion for the first time in 2011 and reaching a staggering USD 1.1 trillion in 2013 – thereby more than doubling the amount of outflows estimated for 2004. >>


Independence of the National Audit Office of Malawi – a precondition for its value and benefits to Malawian citizens

The National Audit Office (NAO) of Malawi held a Symposium on the "Value and Benefits of a Supreme Audit Institution – Strengthening the Independence of the Auditor General and the National Audit Office" on 26 and 27 October 2015 with support from GIZ. The NAO is, as in many other countries, not granted the necessary autonomy as required by international auditing standards with respect to personal, financial, or functional matters. The financial dependence from the Ministry of Finance means that NAO does not have sufficient funds to exercise the audits required by law; NAO cannot decide independently on its organizational structure and on the recruitment or firing of its personal; the constitution obliges it to pass its audit reports to the Ministry of Finance before parliament can see it. The conflict of interest is obvious – the Ministry of Finance as the main auditee must not have the power of the first say on the audit report. >>

OECD: Corporate tax revenues falling, putting higher burdens on individuals


OECD: Corporate tax revenues falling, putting higher burdens on individuals

In its Revenue Statistics 2015, published yesterday on December 3rd 2015, the OECD reports how average corporate tax revenues in OECD-countries have been falling from 3.6% to 2.8% of GDP over the course of 2007-14. Average revenues from individual income tax and VAT revenues increased from 8.8% to 8.9% and from 6.5% to 6.8% respectively in the same period. Social security contributions additionally offset the trend by increasing from 8.5% to 9.2% of GDP. >>