{"id":3428,"date":"2023-09-11T11:02:55","date_gmt":"2023-09-11T11:02:55","guid":{"rendered":"https:\/\/legalavocado.com\/wp\/?p=3428"},"modified":"2023-09-11T11:15:04","modified_gmt":"2023-09-11T11:15:04","slug":"avocado-roundup-g20-leaders-urge-swift-implementation-of-crypto-tax-reporting-rules","status":"publish","type":"post","link":"https:\/\/legalavocado.com\/wp\/avocado-roundup-g20-leaders-urge-swift-implementation-of-crypto-tax-reporting-rules\/","title":{"rendered":"Avocado Roundup: G20 Leaders Urge &#8220;Swift&#8221; Implementation of Crypto-Tax Reporting Rules"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3428\" class=\"elementor elementor-3428\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f934596 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f934596\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-41f452d\" data-id=\"41f452d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6249c27 elementor-widget elementor-widget-text-editor\" data-id=\"6249c27\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.16.0 - 20-09-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\tAvocado Roundup is a quick morning review of top tax, legal, and climate news stories. It\u2019s written by humans.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b24cf97 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b24cf97\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9986590\" data-id=\"9986590\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-096467f elementor-widget elementor-widget-text-editor\" data-id=\"096467f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Leaders of the world&#8217;s biggest economies this weekend called for &#8220;swift&#8221; implementation of proposed rules for a cross-border crypto-asset reporting framework, and updates to existing tax information exchange mechanisms, aimed at boosting jurisdictions&#8217; ability to tax those assets. That was among conclusions in the\u00a0<span style=\"color: var( --e-global-color-text ); background-color: var( --e-global-color-c696dce ); font-size: 1rem;\">final statement that<\/span><span style=\"color: var( --e-global-color-text ); background-color: var( --e-global-color-c696dce ); font-size: 1rem;\">\u00a0<\/span><span style=\"color: var( --e-global-color-text ); font-size: 1rem; background-color: var( --e-global-color-c696dce );\">Group of 20 country leaders issued to close<\/span><span style=\"color: var( --e-global-color-text ); font-size: 1rem; background-color: var( --e-global-color-c696dce );\">\u00a0the G20 summit in New Delhi, India.<\/span><\/li><li>\u201cWe call for the swift implementation of the Crypto-Asset Reporting Framework (CARF) and amendments to the CRS [Common Reporting Standard]. We ask the Global Forum on Transparency and Exchange of Information for Tax Purposes to identify an appropriate and coordinated timeline to commence exchanges by relevant jurisdictions,\u201d the G20 leaders statement said. (<a style=\"font-size: 1rem;\" href=\"https:\/\/www.g20.org\/content\/dam\/gtwenty\/gtwenty_new\/document\/G20-New-Delhi-Leaders-Declaration.pdf\" target=\"_blank\" rel=\"noopener\"><i><u>G20.org<\/u><\/i><\/a><span style=\"color: var( --e-global-color-text ); background-color: var( --e-global-color-c696dce ); font-size: 1rem;\">)<\/span><\/li><li>The statement also reiterated G20 support for international work on a reform of global tax rules. It noted &#8220;significant&#8221; recent progress in work on a two-pillar program to address\u00a0<span style=\"color: var( --e-global-color-text ); font-size: 1rem; background-color: var( --e-global-color-c696dce );\">tax challenges arising from digitalization of the economy.<\/span><span style=\"color: var( --e-global-color-text ); font-size: 1rem; background-color: var( --e-global-color-c696dce );\">\u00a0The Organization for Economic Cooperation and Development, which is leading that work, presented a report to the leaders Friday detailing its key components. (<\/span><a style=\"font-size: 1rem;\" href=\"https:\/\/legalavocado.com\/wp\/oecd-updates-g-20-leaders-on-international-tax-progress\/\" target=\"_blank\" rel=\"noopener\"><i><u>LegalAvocado<\/u><\/i><\/a><span style=\"color: var( --e-global-color-text ); font-size: 1rem; background-color: var( --e-global-color-c696dce );\">)<\/span><\/li><li>The G20 also noted the OECD&#8217;s recent\u00a0<a style=\"font-size: 1rem;\" href=\"https:\/\/www.oecd.org\/tax\/enhancing-international-tax-transparency-on-real-estate-37292361-en.htm\" target=\"_blank\" rel=\"noopener\"><i><u>report<\/u><\/i><\/a><span style=\"color: var( --e-global-color-text ); font-size: 1rem; background-color: var( --e-global-color-c696dce );\">\u00a0to G20 finance ministers and central bank governors on enhancing international tax transparency on real estate. It acknowledged\u00a0<\/span><span style=\"color: var( --e-global-color-text ); font-size: 1rem; background-color: var( --e-global-color-c696dce );\">the Global Forum report on facilitating use of t<\/span>ax-treaty-exchanged information for non-tax Purposes.<span style=\"color: var( --e-global-color-text ); font-size: 1rem; background-color: var( --e-global-color-c696dce );\">\u00a0(<\/span><a style=\"font-size: 1rem;\" href=\"https:\/\/www.oecd.org\/tax\/transparency\/documents\/facilitating-the-use-of-treaty-exchanged-tax-information-for-non-tax-purposes.pdf\" target=\"_blank\" rel=\"noopener\"><i>OECD.org<\/i><\/a><span style=\"color: var( --e-global-color-text ); font-size: 1rem; background-color: var( --e-global-color-c696dce );\">)<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6684322 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6684322\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3a72c4e\" data-id=\"3a72c4e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a54501c elementor-widget elementor-widget-text-editor\" data-id=\"a54501c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul>\n<li><span style=\"color: var( --e-global-color-text ); background-color: var( --e-global-color-c696dce ); font-size: 1rem;\">Big Four accounting firm PricewaterhouseCoopers reportedly plans to give up millions of dollars in auditing work for US clients in a bid to reduce its conflict of interest risks. (<\/span><a style=\"font-size: 1rem;\" href=\"https:\/\/www.ft.com\/content\/a17644d8-bbef-4cca-bcb4-06ed14e59180\" target=\"_blank\" rel=\"noopener\"><i><u>Financial Times)<\/u><\/i><\/a><\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0d812aa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0d812aa\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a7e79d4\" data-id=\"a7e79d4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-94004f4 elementor-widget elementor-widget-text-editor\" data-id=\"94004f4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>The US Internal Revenue Service Friday said it plans to use artificial intelligence and other &#8220;improved technology&#8221; to go after wealthy individuals, partnerships, large corporations and promoters that don&#8217;t pay their fair share of taxes. (<a href=\"https:\/\/www.irs.gov\/newsroom\/irs-announces-sweeping-effort-to-restore-fairness-to-tax-system-with-inflation-reduction-act-funding-new-compliance-efforts\" target=\"_blank\" rel=\"noopener\"><i><u>IRS.gov<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-49b7cb2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"49b7cb2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5476b78\" data-id=\"5476b78\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-29c02ec elementor-widget elementor-widget-text-editor\" data-id=\"29c02ec\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>The French government plans to index its update of tax brackets in the 2024 budget on inflation. The move, aimed at easing the inflation hit for taxpayers, could cost the government 5 to 6 billion euros ($5.34 billion to $6.43 billion) in revenues, according to a French-language report. (<a href=\"https:\/\/www.lesechos.fr\/economie-france\/budget-fiscalite\/impot-sur-le-revenu-leffet-de-linflation-sera-neutralise-en-2024-1976652\" target=\"_blank\" rel=\"noopener\"><i><u>Les Echos<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9f9d244 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9f9d244\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-67f06bd\" data-id=\"67f06bd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-263b62e elementor-widget elementor-widget-text-editor\" data-id=\"263b62e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>The United Arab Emirates federal tax authority published a new general guide for corporate tax. (<a href=\"https:\/\/tax.gov.ae\/\/Datafolder\/Files\/Guides\/CT\/CT%20General%20Guide%20-%20EN%20-%2010%2009%202023.pdf\" target=\"_blank\" rel=\"noopener\"><i><u>Tax.gov.ae<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ff77804 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ff77804\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b8cf0c9\" data-id=\"b8cf0c9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cfac57b elementor-widget elementor-widget-text-editor\" data-id=\"cfac57b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Arnold &amp; Porter added a six-lawyer trial team, including five partners and one counsel, to its product liability litigation practice group. They arrive from Kansas City, Missouri-based law firm Shook Hardy and Bacon, with most of the partners now based in A&amp;P&#8217;s\u00a0 Washington headquarters and one in Houston, Texas. (<a href=\"https:\/\/www.arnoldporter.com\/en\/perspectives\/news\/2023\/09\/arnold-and-porter-adds-six-lawyer-trial-team-to\" target=\"_blank\" rel=\"noopener\"><i><u>ArnoldPorter.com<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Avocado Roundup is a quick morning review of top tax, legal, and climate news stories. It\u2019s written by humans. Leaders of the world&#8217;s biggest economies this weekend called for &#8220;swift&#8221; implementation of proposed rules for a cross-border crypto-asset reporting framework, and updates to existing tax information exchange mechanisms, aimed at boosting jurisdictions&#8217; ability to tax [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3558,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[65,6,68,84,85,7,5,72,73,4,64,17,21],"tags":[],"class_list":["post-3428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-audit","category-france","category-fraud","category-g20","category-india","category-law-firms-lawyers","category-oecd","category-pillar-one","category-pillar-two","category-tax","category-tax-revenues","category-transfer-pricing","category-united-states"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/posts\/3428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/comments?post=3428"}],"version-history":[{"count":125,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/posts\/3428\/revisions"}],"predecessor-version":[{"id":3577,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/posts\/3428\/revisions\/3577"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/media\/3558"}],"wp:attachment":[{"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/media?parent=3428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/categories?post=3428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/tags?post=3428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}