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A Road Map to Better Financial Services Regulation

By David F. Snyder, Vice President and Associate General Counsel, Public Policy, American Insurance Association In the Paris headquarters of the Organization for Economic Co-operation and Development (OECD), there is a photograph of President Eisenhower, President DeGaulle, Prime Minister MacMillan...

Changes Coming: US Sentencing Guidelines, UK Bribery Bill & OECD on Facilitation Payments-Part I

At its April 7, 2010 meeting the United States Sentencing Commission approved amendments to its Sentencing Guidelines . The next day on April 8, 2010, the UK Bribery Bill received Royal Assent. These two events follow the December 9, 2009 release by the Organization for Economic Co-Operation and...

Changes Coming: US Sentencing Guidelines, UK Bribery Billand the OECD on Facilitation Payment-Part II

At its April 7, 2010 meeting the United States Sentencing Commission approved amendments to its Sentencing Guidelines. The next day on April 8, 2010, the UK Bribery Bill received Royal Assent. These two events follow the December 9, 2009 release by the Organization for Economic Co-Operation and Development's...

Changes Coming:US Sentencing Guidelines, UK Bribery Act and the OECD on Facilitation Payments-Part III

At its April 7, 2010 meeting the United States Sentencing Commission approved amendments to its Sentencing Guidelines. The next day on April 8, 2010, the UK Bribery Bill received Royal Assent and became the Bribery Act. These two events follow the December 9, 2009 release by the Organization for...

The International View on US Anti-Bribery Efforts

The Organization for Economic Cooperation and Development's report on U.S. anti-bribery efforts released their Phase 3 Report on the United States . In its report, the Working Group commended the United States for its engagement with the private sector, substantial enforcement, and commitment...

Lawyers and Corruption Laws

In April 2010, the International Bar Association, the Organisation for Economic Co-operation and Development and the United Nations Office on Drugs and Crime, launched the Anti-Corruption Strategy for the Legal Profession. The project is focusing on the role lawyers play in fighting corruption in...

The End of the FCPA Facilitation Payment Exception?

In November, 2009 the Organization for Economic and Co-operation and Development (OECD) announced a new recommendation at the OECD's celebration of "International Anti-Corruption Day" and the Tenth Anniversary of the " Entry into Force of the OECD Anti-Bribery Convention "....

Berland on the OECD Good Practice Guidance on Internal Controls, Ethics, and Compliance

One of the three generally sourced cited as a benchmark of the elements of an effective compliance program is the Organization for Economic Co-operation and Development (OECD) Good Practice Guidance on Internal Controls, Ethics, and Compliance . In the June issue of the Society of Corporate Compliance...

Obama's Rate Cut: How Low Can You Go?

President Obama's newly released 'framework' for corporate tax reform envisions a significant rate cut for U.S. firms. You can read the details at the President's Framework for Business Tax Reform . His basic idea is to lower the statutory rate from 35% to 28%. He's vague on the details...

OECD Praises Itself Through G20 For Progress on Tax Evasion - But Is It Praiseworthy?

In a recent post on its website, the OECD says that the G20 has reported that "steady progress is being made towards tackling tax evasion more effectively." In an article I wrote in 2010, I called the G20 a syndicator of OECD tax views , since the G20 lacks an independent infrastructure in...

OECD: Global Corruption Enforcement Is On the Rise

The new Report of the OECD Working Group on Bribery details its recent work while providing an overview of anti-bribery enforcement around the globe. The Anti-Bribery Convention came into force in 1999. As of December 2011 there were 38 parties to the Convention, 34 of whom are OECD member along with...

Managing the Competent Authority Process for U.S.-Based Multinational Enterprises

by Barry Shott, Richard Barrett and Elizabeth Sweigart * Under pressure to close revenue gaps and to address perceived aggressive tax positions related to the pricing of cross-border transactions, both the U.S. and foreign tax authorities are imposing very large tax adjustments upon multinational enterprises...

A New Proposal to Promote American Manufacturing

In recent years U.S. multinationals have restructured themselves in a manner that allows them to greatly reduce their worldwide tax bill. This restructuring has been described in detail by the OECD andil and by the Joint Committee on Taxation . In a March 15 presentation at a conference on taxation and...

'Legal Enemies of the State'!

How does that old Wall Street saying go? Bulls make money; Bears make money; Pigs get slaughtered. Bulls in this context are easily defined, and so are Bears. Money can be measured. But it seems to me that piggy behavior is in the eyes of the beholder. In Tax Notes this week I wrote about abusive transfer...

OECD Doesn't Want Politics to Interfere with Tax Policy

I was wrong. I thought that The Organisation for Economic Co-operation and Development (OECD) had shrugged off its cautious, conservative tendencies with the issuance of its February 12 report entitled "Base Erosion and Profit Shifting ." After my first read of the 91-page document I believed...

Can the OECD Be Trusted on Base Erosion?

by Jeremy Scott After years of creating rules that allow multinational corporations to shift profits and income to whatever jurisdiction they like, the OECD is now very concerned about base erosion. In fact, it is drafting a major report on base erosion and profit shifting (commonly called BEPS)....

Intercompany Agreements for U.S.-Based Multinational Enterprises

On September 16, 2014, the Organisation for Economic Co-operation and Development (OECD) released its final guidance on transfer pricing documentation and country-by-country (CbC) reporting. Developed as a replacement for the existing Chapter V (Documentation) of the Transfer Pricing Guidelines for Multinational...

OECD Recommends More Tariffs and Taxes to Manage Water Risks

By E. Lynn Grayson Today's financing mechanisms cannot cover the cost of upgrading old water systems, due to public budget cuts, a failure to reflect future costs in water charges and a drop in tariff revenues as city dwellers use less water. A new report by the Organization for Economic Cooperation...