What is the role of the Organisation for Economic Co-operation and Development (OECD)?
The Organisation for Economic Co-operation and Development (OECD) is an international organization that helps to improve the economic and social wellbeing of people worldwide. It is responsible for developing, promoting, and monitoring economic policies and trends in its member countries. In relation to international tax law in Maryland, the OECD plays a role in setting global standards for taxation. The OECD has developed a comprehensive set of standards for taxation in the form of the Base Erosion and Profit Shifting (BEPS) project. This project seeks to address tax avoidance schemes used by multinational companies to reduce taxes paid in different countries. The OECD has created a number of recommendations for member countries to adopt in order to reduce their instances of tax avoidance and decrease the tax gap. The OECD also provides guidance and advice to national governments on taxation policies, particularly in the field of international taxation. This helps the governments of member countries to ensure their taxation policies comply with the standards set by the OECD. Additionally, the OECD encourages countries to share information related to taxation investigations via the Global Forum on Transparency and Exchange of Information. This helps member countries to detect and combat tax evasion more effectively. In summary, the Organisation for Economic Co-operation and Development (OECD) plays an important role in setting global standards for taxation, providing guidance to national governments on international tax law, and encouraging the sharing of information related to taxation investigations.
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