International Tax Policy at a Critical Juncture

"International Tax Policy at a Critical Juncture: The Search for Consensus on Reforms" | 13 April 2019, IMF HQ2, Washington, D.C.

The need for a global consensus for far-reaching reform

The OECD has pledged to draft a work plan to address the tax challenges of the digital economy to be approved by the OECD/G-20’s Inclusive Framework on Base Erosion and Profit Shifting (BEPS) in May 2019, and by the G20 Finance Ministers in early June 2019. Negotiations are ongoing among countries to identify common ground. For the first time, the availability of country-by-country reporting and other data has enabled countries to better estimate the revenue implications of the different proposals: this is now driving the negotiation process. However, the way forward requires consensus. Negotiators should seek sustainable solutions based on clear and appropriate principles, looking beyond immediate administrative concerns and short-term resolutions. The current rules were devised nearly a century ago: the considerable efforts to overhaul them should aim to make them fit for the 21st century.

Dialogue between ICRICT and G-24

The aim of this dialogue is to engage G-24 representatives in a discussion of progress made through the Inclusive Framework and to explore prospects for advancing a principle-based consensus solution that would benefit G-24 and other developing countries.

Agenda

Welcome & Opening Address

• Luise Rürup, Executive Director, FES New York
• Marilou Uy, Director, G-24 Secretariat
• José Antonio Ocampo, ICRICT Chair and G-24 delegate for Colombia

Presentations

• Joseph Stiglitz, ICRICT Commissioner and Nobel Laurate
• Suresh Yadav, Advisor (India), World Bank

Discussion & Conclusion