The Organisation for Economic Cooperation and Development (OECD) today released a series of “practice notes” that are developed as tools for use by resource-rich developing countries.
As the OECD release observes, mineral resources present a significant economic opportunity to increase government revenue, but tax base erosion and profit shifting (BEPS), combined with gaps in the capabilities of tax authorities in developing countries, threaten this prospect. The practice notes thus have been developed for use by these governments.
The three finalised practice notes are:
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