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The G8 Agenda and TaxationDax Basdeo, Ph.D.Chief Officer, Ministry for Financial ServicesCayman Islands Government7 May 20...
Global Context• Financial Crisis• Global Economic Recovery• Multiple Agenda– G20– G8– G0.7– EU– UN
The UK’s G8 Agenda• Davos Speech (24 January 2013)– Advancing trade (integration)– Ensuring tax compliance (tax evasion & ...
EU Agenda• Communication: ‘Fight against tax fraud and taxevasion’ (27 June 2012)• Action Plan (6 December 2012)– Aggressi...
G20: Automatic EOI• ‘We welcome and endorse the improved OECDstandard with respect to information requests’ (November2012)...
OECD & FATF• OECD– Report on Base Erosion and Profit Shifting (February2013)– Report to G20 (April 2013)– BEPS Action Plan...
JurisdictionalResponses• Luxembourg, Austria• Isle of Man, Guernsey, Jersey• Anguilla, Bermuda, BVI, Turks andCaicos, Mont...
Media & PublicOpinion• Poverty vs. Inequality• Evasion & Avoidance• Optimisation vs. Aggressive Tax Planning• Data Leaks &...
Fair Share• Blame?– Government / Tax Code– MNCs– Service Providers– Offshore Centres• Benefits?– Taxpayers– Developing Cou...
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Overview of the UK's G8 Agenda

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2013 Offshore Alert panel presentation;
UK's G8 Agenda - tax, transparency and trade

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Transcript of "Overview of the UK's G8 Agenda"

  1. 1. The G8 Agenda and TaxationDax Basdeo, Ph.D.Chief Officer, Ministry for Financial ServicesCayman Islands Government7 May 2013 | OffshoreAlert Conference | Miami, Florida
  2. 2. Global Context• Financial Crisis• Global Economic Recovery• Multiple Agenda– G20– G8– G0.7– EU– UN
  3. 3. The UK’s G8 Agenda• Davos Speech (24 January 2013)– Advancing trade (integration)– Ensuring tax compliance (tax evasion & aggressive taxavoidance)– Promoting greater transparency(corruption / extractive industries)• Communication with OTs and CDs (26 March 2013)– UK FATCA, OECD Multilateral Convention– Revised FATF Standards– Anti-Corruption– OECD Multilateral Convention  Multilateral Pilot (24 April2013)
  4. 4. EU Agenda• Communication: ‘Fight against tax fraud and taxevasion’ (27 June 2012)• Action Plan (6 December 2012)– Aggressive tax planning– Encouraging third countries• ECOFIN (13 April 2013)– Semeta: ‘The surge … in appetite for progress andaction’• Launch of Tax Good Governance Platform (23 April2013)
  5. 5. G20: Automatic EOI• ‘We welcome and endorse the improved OECDstandard with respect to information requests’ (November2012)• ‘We reiterate our commitment to extending thepractice of automatic exchange of information’ (February2013)• ‘We look forward to the OECD working with G20countries to report back on the progress in developingof a new multilateral standard on automatic exchangeof information’ (April 2013)
  6. 6. OECD & FATF• OECD– Report on Base Erosion and Profit Shifting (February2013)– Report to G20 (April 2013)– BEPS Action Plan (July 2013)– Transparency Ratings (September 2013)• FATF– Revised Recommendations (February 2012)• CFATF reviews expected to begin in Q4 2014– Revised Methodology (February 2013)
  7. 7. JurisdictionalResponses• Luxembourg, Austria• Isle of Man, Guernsey, Jersey• Anguilla, Bermuda, BVI, Turks andCaicos, Montserrat• Cayman Islands
  8. 8. Media & PublicOpinion• Poverty vs. Inequality• Evasion & Avoidance• Optimisation vs. Aggressive Tax Planning• Data Leaks & Scandals• Scope of the Problem• Heart vs. Mind
  9. 9. Fair Share• Blame?– Government / Tax Code– MNCs– Service Providers– Offshore Centres• Benefits?– Taxpayers– Developing Countries
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