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Senior New Zealand tax officials are this week working with the OECD in Paris to prepare for delivery of the first parts of the OECD’s action plan to counter base erosion and profit shifting, says Revenue Minister Todd McClay.

The Cayman Islands, Luxembourg and Jersey are among 42 countries that have agreed to pioneer a tax transparency regime in another milestone in the global crackdown on evasion.

According the Organisation for Economic Co-operation and Development, Finland does not need to rush spending cuts and higher taxes in order to balance the economy. OECD Secretary General Ángel Gurría said Wednesday that Finland can even afford more debt if structural changes are used to ensure the state’s debt spiral can be brought to heel.

International technology companies should stop considering it their “duty” to employ tax-dodging strategies, said Angel Gurria, head of the Organization for Economic Cooperation and Development.

PARIS – Government revenues across the world are showing signs of a steady recovery following the economic shocks in 2008 and 2007, although the current tax take is still below the levels seen before the financial crisis.

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