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Review our cookie policy for more information. In addition, the outcome of the work contained an update on the FHTP’s criteria and guidance used in assessing preferential regimes. The assessments of preferential tax regimes are conducted by the Forum on Harmful Tax Practices (FHTP), comprising of the more than 130 member jurisdictions of the Inclusive Framework. The more open and competitive global market of recent decades has had many positive effects on tax systems. practices. The 2018 Progress Report also delivers on the Action 5 mandate for considering revisions or additions to the FHTP framework, including updating the criteria and guidance used in assessing preferential regimes and the resumption of application of the substantial activities factor to no or only nominal tax jurisdictions. This report includes the details of this new standard and the other work on additions to and revisions of the harmful tax practices framework. members have committed to implement. The OECD has published three reports on harmful tax practices: Harmful Tax Competition: An Emerging Global Issue (1998); Towards Global Tax Co-operation: Progress in Identifying and Eliminating Harmful Tax Practices (2000); The OECDs Project on Harmful Tax Practices: The 2001 Progress Report (2001). The OECD is working to involve non-OECD countries in its harmful tax practices work as well. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. The results below are a consolidated update of the regimes reported in Harmful Tax Practices – 2018 Progress Report on Preferential Regimes. The IMF estimates that assets worth more than $5 trillion are held offshore. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
substantial activities factor for no or only nominal tax jurisdictions. German.
These guidelines provide for a standstill from introducing new measures that are harmful, a review of existing measures for the purpose of identifying those that are harmful, and the removal of any practices that are harmful by April 2003 (or by 2006 if certain criteria are met).
Since then, 31 jurisdictions have made commitments to transparency and effective exchange of information and are considered co-operative jurisdictions by the OECD's Committee on Fiscal Affairs.
members have committed to implement. Published on January 29, 2019Also available in: French, In series:OECD/G20 Base Erosion and Profit Shifting Projectview more titles. With our hub based in one of the world's global cities and offices across continents. All Rights Reserved. EY | Assurance | Consulting | Strategy and Transactions | Tax. Also available in: Since the start of the BEPS Project, the FHTP has reviewed almost 290 preferential tax regimes.
Find out more: NOTE: All signed articles in the OECD Observer express the opinions of the authors and do not necessarily represent the official views of OECD member countries. Report.
Beyond securing revenues by realigning taxation with economic activities and value creation, the OECD/G20 BEPS Project aims to create a single set of consensus-based international tax rules to address BEPS, and hence to protect tax bases while offering increased certainty and predictability to taxpayers. Since 1998 the OECD has co-ordinated action so that countries large and small, rich and poor, OECD and non-OECD can work together to eliminate harmful tax practices with regard to geographically mobile activities, such as financial and other service activities. The OECD has also sought and received valuable input from civil society, notably business and labour. BEPS Action 5 is one of the four BEPS minimum standards which all Inclusive Framework In doing so, the Inclusive Framework will ensure that substantial activities must be performed in respect of the same types of mobile business activities, regardless of whether they take place in a preferential regime or in a no or only nominal tax jurisdiction. The 1998 Report agreed a set of factors to determine whether a regime is preferential and, if so, whether the preferential regime is potentially and actually harmful. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. How do you create customer intimacy without proximity? Past Progress and Prospects Harmful tax practices (e.g., tax havens, preferential tax regimes, tax rulings) are characterised by the propensity to erode tax bases of other countries which allegedly leads to an undesirable race-to-the-bottom on taxation rates. How to reshape the C-suite for a better working world. have the potential to unfairly impact the tax base of other jurisdictions.
requirements for no or only nominal tax jurisdictions. Since the start of the BEPS Project, the FHTP has reviewed almost 290 preferential tax regimes. are reported as at January 2019.
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