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G7 Finance Ministers commit timely, effective implementation of two-pillar solution; Welcome OECD report on Tax Co-operation for 21st century

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OECD announces public consultation on 'Regulated Financial Services Exclusion' under Pillar One; Invites comments by May 20

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Stakeholders seek simplification in definitions for extractive exclusion, clarity on dual test for LNG

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OECD conducts virtual consultation on implementation framework for global minimum tax; Panelists suggest common information reporting platform

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OECD releases third batch of updated TP country profiles; Updates include US, UK, Canada, China etc. & 6 new Inclusive Framework members

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OECD releases updated Transfer Pricing country profiles for 21 countries, includes 3 new first time participants

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EU adopts public Country-By-Country Reporting; Effective from Dec 21, 2021

Around the World International

OECD releases MAP Statistics for 2020; India resolves 48% of TP MAP cases via domestic remedy

Around the World International News

India & US agree on transitional approach on 2% EL; Terms to be finalised in Feb’22

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ATO updates intercompany interest rate thresholds for small taxpayers as part of simplified record-keeping options

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US, UK, Austria, France, Italy & Spain strike transitional Compromise over Unilateral Measures with tax credit Framework

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OECD releases PCT Progress Report 2021, highlights support given to countries during COVID-19 pandemic

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Austria overhauls TP-guidelines after 10 years, aligns it with BEPS and OECD 2017 Guidelines

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OECD releases fourth peer-review report of BEPS AP 13, Acknowledges India's EOI-processes consistent with reference terms

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OECD releases Stage 2 Peer Review Reports on progress under BEPS Action 14 for 7 jurisdictions including China, Russia

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Tax World Reacts on Historic Statement of OECD/G20 BEPS Inclusive Framework

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Path-breaking agreement reached on digital economy taxation by 136 countries, with two-pillar solution as base

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G-24 submits comments on OECD/G20 BEPS IF Statement; Emphasises on needs of developing countries

Around the World International

OECD releases Model Manual on Exchange of Information prepared by Global Forum, World Bank Group & African Development Bank

Around the World International

UN Tax Committee invites comments on Draft Agenda by Sep 21