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Tax Inspectors Without Borders (TIWB) Programme in Saint Lucia

By Amigos IAS

Why is it in the news?

  • Recently Tax Inspectors Without Borders (TIWB) launched a programme in Saint Lucia.
  • India has been selected as the Partner Administrationand will contribute Tax Experts to this programme.

 More about the news

  • The Tax Inspectors Without Borders (TIWB) initiative is designed to support countries in building their tax audit capacity. It operates with the goal of facilitating the transfer of tax audit knowledge and skills to developing country tax administrations, employing a practical “learning by doing” approach.
  • The TIWB initiative aligns with the OECD/G20 Base Erosion and Profit Shifting (BEPS) actions, emphasizing the need for international cooperation to address challenges related to tax evasion and profit shifting.

 About TIWB Programme

  • TIWB is a joint initiative of the Organisation for Economic Co-operation and Development (OECD) and the United Nations Development Programme (UNDP). The initiative was officially launched in 2015.
  • The TIWB Secretariat is located in Paris and is supported by UNDP’s network of Country Offices in developing nations.
  • TIWB aims to enhance international cooperation on tax matters, recognizing the importance of collaborative efforts in addressing global tax challenges.
  • The initiative supports the domestic resource mobilization efforts of developing countries, recognizing the significance of revenue generation for sustainable development.
  • TIWB facilitates targeted tax audit assistance programmes in developing countries across the globe, focusing on building the capacity of tax administrations.

TIWB Programme in Saint Lucia

  • The recent launch of the TIWB programme in Saint Lucia involves a partnership with the TIWB Secretariat, where India has been selected as the Partner Administration.
  • India, in its role as the Partner Administration, will contribute Tax Experts to assist Saint Lucia in enhancing its tax administration capabilities.
  • The program in Saint Lucia will emphasize imparting technical knowledge and skills to tax officials, along with sharing best practices in tax administration.
  • A notable aspect of the program is its focus on the efficient utilization of automatic exchange of information within the Common Reporting Standard (CRS) framework, aligning with global efforts to enhance transparency in tax matters.
  • This initiative marks the seventh TIWB program supported by India, highlighting the country’s ongoing commitment to international tax cooperation and capacity-building in developing nations.
Base Erosion and Profit Shifting (BEPS)

·       Base Erosion and Profit Shifting (BEPS) involves businesses moving earnings to tax jurisdictions with lower rates.

·       BEPS affects the integrity of tax systems, allowing multinational corporations to gain a competitive advantage.

·       BEPS has the potential to weaken the tax base of countries, including India. In practice, BEPS involves transferring earnings from high-tax nations to low or no-tax jurisdictions like tax havens.

 

BEPS Action Plan

·       Created by OECD and G20 in 2013 to address challenges posed by profit shifting and base erosion.

·       Aims to develop comprehensive strategies for fair taxation, preventing tax avoidance.

·       Emphasizes global collaboration to establish common standards and practices.

·       Outlines specific measures to counteract negative effects of BEPS and enhance global tax transparency.

·       One primary goal is to prevent multinational companies from avoiding taxes through artificial profit shifting, ensuring fair contributions.

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