11 May Weekly Round-Up

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In case you missed it, last week's Weekly Round-Up featured the following stories:

  • OECD Invites Comments on Transfer Pricing Guidelines
  • Medium-Term Growth in Sub-Saharan Africa
  • EBRD's Regional Economic Prospects
  • IMF Concludes Article IV Consultation with Uzbekistan
  • Digital Services Tax Proposed in Spain 
  • New Book Co-Authored by ITIC Advisor
  • IMF Releases Staff Concluding Statement for Guyana
  • Multinational Digital Tax Proposals in Australia

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4 May Weekly Round-Up

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In case you missed it, last week's Weekly Round-Up featured the following stories:

  • Comments Invited on IGF-OECD Draft Toolkits
  • Lithuania to become 36th Member of OECD
  • Meeting of the West and Central Africa Directors General of Customs Held in Guinea
  • IMF Releases Country Report for Turkey
  • Australian Government Seeks Comments on Multinational Anti-Avoidance Law Draft Guidance

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Weekly Round-Up

This week featured:

  • The latest release of the United Nations Conference on Trade and Development (UNCTAD) Investment Trends Monitor
  • An article by ITIC President Daniel in "Capital Finance International"
  • The launch of the Organisation for Economic Co-operation and Development's (OECD) International Compliance Assurance Programme (ICAP)
  • Six new countries joining the OECD BEPS Multilateral Convention
  • The end-of-mission statement by the IMF following a two-week mission to West Africa
  • New country-by-country reporting tax regulations in Nigeria
  • Presentations from the 2017 Africa Tax Dialogue

Mozambique Revenue Authority Launches Excise Stamps

On 17 March 2017, the Mozambique Revenue Authority (MRA) introduced a requirement for excise stamps on alcohol beverages and tobacco products pursuant to laws and regulations adopted to establish procedures for sealing alcohol beverages and tobacco manufactured products subject to excise duties. The revised law and regulations mandate the process of sealing beverages and manufactured tobacco for every producer, importer, supplier, and user, including enforcement agents.

IMF Releases Regional Economic Outlook for Sub-Saharan Africa

On 10 May, the IMF released its Sub-Saharan Africa economic outlook, Restarting the Growth Engine. The report is available (in English and French) on the IMF’s website. The report features a comprehensive examination of the informal sector in Sub-Saharan Africa, with the IMF estimating that the informal sector contributes 25%-65% of GDP and 30%-90% of nonagricultural employment. From a domestic revenue mobilization perspective, this significant portion of Sub-Saharan African economies represents potential budget revenues. Institutional challenges remain, however, when it comes to encouraging the conversion of the informal sector into the formal sector. A large tax burden and overly cumbersome compliance requirements are likely to have the paradoxical effect of encouraging economic activity to remain in the informal sector. The transformation of digital technologies and services in many Sub-Saharan Africa economies presents opportunities for converting the informal sector, while not creating onerous tax or administrative compliance burdens.

These topics will be further explored as technical sessions in ITIC’s Africa Tax Dialogue later this year, including examination of successful country case studies.


Dan Witt is President of the International Tax and Investment Center (ITIC).