Tag: OECD

Balancing transparency and legitimate confidentiality: insights from the OECD Forum

This week the OECD Global Anti-Corruption & Integrity Forum in Paris brought together public and private sector stakeholders from all over the globe. They had the shared aim of collaborating to enhance safeguards in an evolving global landscape around anti-corruption, anti-money laundering, fraud prevention and public integrity systems. A clear message from the Forum was… Read More Balancing transparency and legitimate confidentiality: insights from the OECD Forum

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Update on recent FATF and OECD forums to tackle financial crime

There have been two opportunities this month for our industry to come together and address emerging challenges of evolving financial crime. The Organisation of Economic Cooperation & Development (OECD) held its Global Anti-Corruption and Integrity Forum in Paris on the 25th anniversary of the signing of the OECD Anti-Bribery Convention. This was followed by the… Read More Update on recent FATF and OECD forums to tackle financial crime

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OECD steps up the fight against enablers of tax and financial crimes

The Organisation for Economic Co-operation and Development’s (OECD) Task Force on Tax Crimes and Other Crimes launched its new report, Ending the Shell Game: Cracking down on the Professionals who enable Tax and White Collar Crimes, during the 2021 OECD Global Anti-Corruption & Integrity Forum this week. The report sets out a range of strategies… Read More OECD steps up the fight against enablers of tax and financial crimes

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The UK replaces DAC6 with the OECD’s model Mandatory Disclosure Rules (MDR) post-Brexit

The disclosure of cross-border tax planning arrangements under Council Directive (EU) 2018/822 (DAC6) came into force on 1 July 2020 and requires reporting of any persons involved in cross-border arrangements, including loan agreements, payments from a resident of one country to a resident of another, or putting funds in an offshore trust, if one of the… Read More The UK replaces DAC6 with the OECD’s model Mandatory Disclosure Rules (MDR) post-Brexit

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The new gatekeepers of the financial system

Update: STEP News 1 Nov: UK revises anti-organised crime strategy to target professional ‘facilitators’ Original blog: Ben Wallace MP, UK Minister of State for Security at the Home Office, has called for more to be done to make lawyers and accountants who facilitate money laundering recognise their responsibilities. As part of a House of Commons… Read More The new gatekeepers of the financial system

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OECD: ‘Public release of taxpayer information is not consistent with the international standards for tax transparency’

STEP yesterday (14 April) received a letter from Mr Kosie Louw, Chair of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes, which was sent to all members of the Global Forum.   The letter contains the following statement: ‘I want to state that the public release of taxpayer information is… Read More OECD: ‘Public release of taxpayer information is not consistent with the international standards for tax transparency’

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When is an international standard not a standard?

International standards can be difficult to implement, requiring change and compromise. Once implemented, however, they ought to make life much easier for everyone. Indeed ideally they should become so universal that we barely notice them. A good example is Bluetooth, the international standard for how electronic devices talk to each other, which is now so… Read More When is an international standard not a standard?

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