The OECD has released the third batch of 2021/2022 updates to the transfer pricing country profiles, reflecting the current transfer pricing legislation and practices of 28 jurisdictions. The updated country profiles add new information on countries’ legislations and practices regarding the transfer pricing aspects of financial transactions and the application of the Authorised OECD Approach (AOA) on the attribution of profits to permanent establishments. In addition, the country profiles reflect updated information on a number of transfer pricing aspects such...

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The United Nations Environment Assembly, meeting in Nairobi, has just agreed to launch negotiations on a legally binding global agreement to combat plastic pollution. EU diplomacy has played a key role in securing the support of the global community coming together in Nairobi for this agreement, which aims at reducing and eventually eliminating plastic pollution in all environments. Executive Vice-President for the European Green Deal, Frans Timmermans said: “It is encouraging to see the global community come together at this...

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Financial stability concerns include potentially higher sensitivity to global financial conditions. Most of the activity in the rapidly growing world of sustainable finance has been previously concentrated in advanced economies, but emerging markets, while still a small share of the total, saw a surge last year. As a result, their market share has increased for the first time since 2016, underscoring the growing investor appetite for environmental, social, and governance (ESG) products, but this growing opportunity also poses new...

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In view of Russian Federation’s unprovoked and unjustified military aggression against Ukraine and the escalating situation, the Council today agreed on a new set of measures that will impose severe consequences on Russia for its actions. Such decisions was agreed in close coordination with EU's partners and allies. Firstly the Council adopted two assistances measures under the European Peace Facility (EPF) that will contribute to strengthening the capabilities and resilience of the Ukrainian Armed Forces to defend the territorial integrity...

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The Federal Reserve Board in March will begin a statistical study of household finances, the Survey of Consumer Finances, that will provide policymakers with important insight into the economic condition of a broad cross section of American families. "This survey is one of the nation's primary sources of information on the financial condition of different types of families," Federal Reserve Board Chair Jerome Powell said in a letter to prospective survey participants. "Our most recent survey has been instrumental in...

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Enterprise Florida, Florida’s economic development agency, published its latest report on foreign-direct investment in Florida in January 2022. It states that “according to the Bureau of Economic Analysis, Florida ranked fifth (5th) in the nation in 2019 in terms of foreign direct investment employment, and 1st in the Southeastern U.S. with a total of 366,100 jobs supported by majority foreign-owned companies.” Most notably, majority foreign-owned companies from Europe account for the largest share BY FAR at 62 percent of...

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As part of the ongoing work of the OECD/G20 Inclusive Framework on BEPS to implement the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy, the OECD is seeking public comments on the Draft Rules for Tax Base Determinations under Amount A of Pillar One. The purpose of the tax base determinations rules is to establish the profit (or loss) of an in-scope MNE that will be used for the Amount A calculations to reallocate...

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Today, the Commission presents its Communication on Decent Work Worldwide that reaffirms the EU's commitment to champion decent work both at home and around the world. The elimination of child labour and forced labour is at the heart of this endeavour. The latest figures show that decent work is still not a reality for many people around the world and more remains to be done: 160 million children – one in ten worldwide – are in child labour, and 25...

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