Discover and read the best of Twitter Threads about #BEPS
Most recents (2)
Breaking:@firsNigeria has published #Nigeria’s revised #TransferPricing Regulations (NTPR). The #NTPR is effective for basis periods commencing after 12 March 2018 and incorporates #BEPS outcomes and suggestions from @ATAFtax.
The #NTPR includes significant penalties for non-compliance (a) failure to file TP declaration = ₦10million + ₦10k/month (b) failure to file updated TP declaration/notification = ₦25k/day.
(c) failure to file TP disclosure = ₦10million or 1% of the value of related party transactions (RPT) not disclosed + ₦10,000/day (d) filing incorrect disclosure = ₦10million or 1% of the value of RPT incorrectly disclosed #NTPR.
Does globalization necessitate lower income tax rates?
A fascinating new @IMFnews paper looks at this exact question. THREAD:
imf.org/~/media/Files/…
A fascinating new @IMFnews paper looks at this exact question. THREAD:
imf.org/~/media/Files/…
1) The paper takes up a puzzle that has permeated much research on taxation in the 'globalization' era:
The increasingly free-flowing, transnational nature of capital
- vs. -
the largely national space of tax regulation and enforcement.
The increasingly free-flowing, transnational nature of capital
- vs. -
the largely national space of tax regulation and enforcement.
2) This contrast, it is generally argued, has meant countries lower their tax rates on mobile capital (corporations, rich people), engaging in 'tax competition' or 'the race to the bottom', or else that capital simply moves elsewhere.
