In taxation and accounting, transfer pricing refers to the rules and methods for pricing transactions within and between enterprises under common ownership or control. Because of the potential for cross-border controlled transactions to distort taxable income, tax authorities in many countries can adjust intragroup transfer prices that differ from what would have been charged by unrelated enterprises dealing at arm’s length. The OECD and World Bank recommend intragroup pricing rules based on the arm’s-length principle, and 19 of the 20 members of the G20 have adopted similar measures through bilateral treaties and domestic legislation, regulations, or administrative practice. Countries with transfer pricing legislation generally follow the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations in most respects, although their rules can differ on some important details.
The OECD Anti-Bribery Convention is an anti-corruption convention of the OECD that requires signatory countries to criminalize bribery of foreign public officials. The convention is a legally binding international agreement that focuses on the supply side of bribery by criminalizing acts of offering or giving bribes to foreign public officials by companies or individuals. Its goal is to create a level playing field in the international business environment.
The Multilateral Agreement on Investment (MAI) was a draft agreement negotiated in secret between members of the Organisation for Economic Co-operation and Development (OECD) between 1995 and 1998. It sought to establish a new body of universal investment laws that would grant corporations unconditional rights to engage in financial operations around the world, without any regard to national laws and citizens' rights. The draft gave corporations a right to sue governments if national health, labor or environment legislation threatened their interests. When its draft became public in 1997, it drew widespread criticism from civil society groups and developing countries, particularly over the possibility that the agreement would make it difficult to regulate foreign investors. After an intense global campaign was waged against the MAI by the treaty's critics, the host nation France announced in October 1998 that it would not support the agreement, effectively preventing its adoption due to the OECD's consensus procedures.
Scottish Enterprise is a non-departmental public body of the Scottish Government which encourages economic development, enterprise, innovation and investment in business. The body covers the eastern and central parts of Scotland whilst similar bodies, Highlands and Islands Enterprise and South of Scotland Enterprise, operate in north-western and southern Scotland, respectively.
The Trade Union Advisory Committee to the OECD (TUAC) is the interface of the Organisation for Economic Co-operation and Development (OECD) with organized labour. TUAC has 59 affiliated trade union centres in 31 OECD countries, representing more than 66 million workers. It also has associate members in Brazil, Indonesia, Russia and South Africa.
The Global Reporting Initiative is an international independent standards organization that helps businesses, governments and other organizations understand and communicate their impacts on issues such as climate change, human rights and corruption. GRI provides the world's most widely used sustainability reporting standards
Mahmoud Mohieldin, is an economist with more than 30 years of experience in international finance and development. He is the UN Climate Change High-Level Champion for Egypt. He is an Executive Director at the International Monetary Fund. He has been the United Nations Special Envoy on Financing the 2030 Sustainable Development Agenda since February 2020. He was the Minister of Investment of Egypt from 2004-2010, and most recently, served as the World Bank Group Senior Vice President for the 2030 Development Agenda, United Nations Relations and Partnerships. His roles at the World Bank also included Managing Director, responsible for Human Development, Sustainable Development, Poverty Reduction and Economic Management, Finance and Private Sector Development, and the World Bank Institute; World Bank President's Special Envoy on the Millennium Development Goals (MDGs), the Post-2015 Development Agenda, and Financing for Development; and Corporate Secretary and Executive Secretary to the Development Committee of the World Bank Group's Board of Governors. Dr Mohieldin also served on several Boards of Directors in the Central Bank of Egypt and the corporate sector. He was a member of the Commission on Growth and Development and was selected for the Young Global Leader of the World Economic Forum in 2005. His professional experience extends into the academic arena as a Professor of Economics and Finance at the Faculty of Economics and Political Science, Cairo University and as a Visiting Professor at several renowned Universities in Egypt, Korea, the UAE, the UK and the USA. He is a member of the International Advisory Board of Durham University Business School. He also holds leading positions in national, regional and international research centres and associations. He has authored numerous publications and articles in leading journals in the fields of economics, finance and development.
The Organisation for Economic Co-operation and Development's (OECD) Development Assistance Committee (DAC) is a forum to discuss issues surrounding aid, development and poverty reduction in developing countries. It describes itself as being the "venue and voice" of the world's major donor countries.
The digital economy is a portmanteau of digital computing and economy, and is an umbrella term that describes how traditional brick-and-mortar economic activities are being transformed by Internet, World Wide Web, and blockchain technologies. The digital economy is variously known as the Internet Economy, Web Economy, Cryptoeconomy, and New Economy. Since the digital economy is continuously replacing and expanding the traditional economy, there is no clear delineation between the two integrated economy types. The digital economy results from billions of daily online transactions among people, organizations, and distributed computing devices enabled by Internet, World Wide Web, and blockchain technologies. The digital economy is rapidly evolving into an Internet of Things (IoT), and could not exist in its current form without the Internet.
David John Bradbury is a former Australian politician. He was a Labor member of the Australian House of Representatives, representing the Division of Lindsay, in New South Wales, from 2007 until 2013. Bradbury was the Minister for Competition Policy and Consumer Affairs, Assistant Treasurer, Minister Assisting for Financial Services and Superannuation, and Minister Assisting for Deregulation. He is currently the Head of Tax Policy and Statistics at the Organisation for Economic Co-operation and Development's Centre For Tax Policy and Administration.
In economics, the business sector or corporate sector - sometimes popularly called simply "business" - is "the part of the economy made up by companies". It is a subset of the domestic economy, excluding the economic activities of general government, of private households, and of non-profit organizations serving individuals. The business sector is part of the private sector, but it differs in that the private sector includes all non-government activity, including non-profit organizations, while the business sector only includes business that operate for profit.
The Office of the Extractive Sector CSR Counsellor was established in 2009 as part of the Government of Canada’s CSR Strategy for the International Extractive Sector. The mandate of the Counsellor is defined by an Order in Council.
The Organisation for Economic Co-operation and Development is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade. It is a forum whose member countries describe themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify good practices, and coordinate domestic and international policies of its members.
Transfer mispricing, also known as transfer pricing manipulation or fraudulent transfer pricing, refers to trade between related parties at prices meant to manipulate markets or to deceive tax authorities. The legality of the process varies between tax jurisdictions; most regard it as a type of fraud or tax evasion.
The Risk & Compliance Portal is a powerhouse for business anti-corruption information offering tools on how to alleviate or reduce risks and costs of corruption when doing business abroad. All the information on the Portal is produced by GAN Integrity Solutions, a Denmark-based IT & Professional Services firm. The Portal was created in 2006 and is aided by the European Commission and a number of European governments.
Labour rights in New Zealand are largely covered by both statute, particularly the Employment Relations Act 2000, and common law. The Ministry of Business, Innovation and Employment carries out most of the day to day administrative functions surrounding labour rights and their practical application in the state.
Holding corporations accountable for either direct conduct or complicity for human rights violations has become an increasing area of attention in promoting human rights. Multinational corporations in particular have been singled out as important figures, for better or worse, in the maintenance of human rights given their economic status and international dimension. As it currently stands there is no mechanism at the international level which can hold corporations legally accountable. Reliance has instead been placed upon a number of soft law instruments the most important one of which is the United Nations Guiding Principles on Business and Human Rights. With the potential exception for redress under the Alien Tort Statute corporations are only legally accountable for human rights violations under the municipal law of the Nation in which the violation is alleged to have occurred or the company is based.
The OECD G20 Base Erosion and Profit Shifting Project is an OECD/G20 project to set up an international framework to combat tax avoidance by multinational enterprises ("MNEs") using base erosion and profit shifting tools. The project, led by the OECD's Committee on Fiscal Affairs, began in 2013 with OECD and G20 countries, in a context of financial crisis and tax affairs. Currently, after the BEPS report has been delivered in 2015, the project is now in its implementation phase, 116 countries are involved including a majority of developing countries. During two years, the package was developed by participating members on an equal footing, as well as widespread consultations with jurisdictions and stakeholders, including business, academics and civil society. And since 2016, the OECD/G20 Inclusive Framework on BEPS provides for its 140 members a platform to work on an equal footing to tackle BEPS, including through peer review of the BEPS minimum standards, and monitoring of implementation of the BEPS package as a whole.
The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, sometime abbreviated BEPS multilateral instrument, is a multilateral convention of the Organisation for Economic Co-operation and Development to combat tax avoidance by multinational enterprises (MNEs) through prevention of Base Erosion and Profit Shifting (BEPS). The BEPS multilateral instrument was negotiated within the framework of the OECD G20 BEPS project and enables countries and jurisdictions to swiftly modify their bilateral tax treaties to implement some of the measures agreed.
The global minimum corporate tax rate, or simply the global minimum tax, is a minimum rate of tax on corporate income internationally agreed upon and accepted by individual jurisdictions. Each country would be eligible to a share of revenue generated by the tax. The aim is to reduce tax competition between countries and discourage multinational corporations (MNC) from profit shifting to achieve tax avoidance.
