Mof Organises Seminar on Cbcr Reporting, Economic Substance Regulations and TaxationSource: www.export-egypt.com 12/16/2019, Location: Middle East |
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The Ministry of Finance, MoF, in cooperation with the Organisation for Economic Cooperation and Development, OECD, organised today a seminar on Country-by-Country Reporting, CbCR, Economic Substance Regulations and taxation in the digital world.
The three-day seminar, which is taking place at the Pullman Dubai Creek City Centre, aims to discuss a number of major developments related to international taxes. Representatives of government entities and negotiation experts from countries in the MENA region will participate in the seminar, in addition to a number of commercial and consulting companies, as well as a number of ministry employees, senior officials and managers. Younis Haji Al Khoori, Under-Secretary of MoF stressed the UAE’s commitment to international standards for tax transparency and fair taxes, and its commitment to implementing the OECD standards as well. "The Ministry of Finance is keen on enhancing cooperation and coordination frameworks with the OECD in taxation, which has mainly become a top priority for the international community to address tax evasion. It will also continue its efforts to enhance the UAE’s position as a leading training centre in the MENA region in exchanging information and building a network of qualified tax expertise," he said. The first part of the conference discusses the latest developments related to the Inclusive Framework on Base Erosion and Profit Shifting, BEPS, which addresses the tax challenges of digitisation in the economy, and the recommendations submitted for consultation during October and November of this year. This includes following up on the discussions that took place in the previous seminars in both 2017 and 2018, in addition to considering the progress made within the programme of the inclusive framework adopted in June 2019. The second part of the conference will address the implementation of Actions 5 and 13 of the BEPS inclusive framework. MoF has extended the MoU signed between the UAE and the OECD for an additional three years (2019-2021), which encourages joint cooperation in the field of developing an understanding of the practical application of international tax principles for tax agreements. |
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