BIAC Welcomes FTA Focus on Eliminating Double Taxation

Participants to the OECD Forum on Tax Administration (FTA) meeting on October 23 and 24 in Dublin agreed that ever-greater cooperation is necessary to implement the results of the OECD’s project on Base Erosion and Profit Shifting (BEPS) and Automatic Exchange of Information.

The Business and Industry Advisory Committee (BIAC) to the OECD welcomed the opportunity to attend part of the FTA, which gathers tax commissioners from more than forty countries, enabling them to identify, discuss and influence relevant global trends and develop new ideas to enhance tax administration around the world. BIAC engaged with the FTA on the issue of improving tax control frameworks.

Will Morris, chair of the BIAC Tax Committee, noted: “We very much welcome the commitment of the tax authorities present to improve the Mutual Agreement Procedure for resolving tax disputes. This shows that the OECD and FTA remain focused on continuing to eliminate double taxation, as well as on preventing double non-taxation. We also welcome the continued emphasis on the cooperative compliance program. One of the best ways of preventing base erosion and profit shifting is by building trust between tax authorities and taxpayers, and that is exactly what cooperative compliance does. This was a positive and very useful meeting.”

USCIB, BIAC and the OECD organize an annual tax conference, the most recent of which took place in June, which reviews the OECD’s work on BEPS, under which governments are seeking to curtail what they perceive as growing under-taxation of international corporate income.

Staff contact: Carol Doran Klein

More on USCIB’s Taxation Committee

Staff Contact:   Rick Minor

VP and International Tax Counsel
Tel: 202.682.7376

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