United States Receives Tax Transparency Rating of 'Largely Compliant': Today, the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes published seven peer review reports assessing compliance with the international standard on tax transparency and exchange of information on request. Four jurisdictions, Indonesia, Japan, the Philippines, and the United States, were rated as “largely compliant.”
EU Code of Conduct Group Issues Agreed Guidance: On Friday, the Council of the European Union issued the compilation of agreed guidance notes by the Code of Conduct Group. The guidance is intended to assist member states in achieving a balanced approach in harmful situations in finance branches, holding companies, and headquarter companies.
TIGTA Finds IRS Should Improve Hardware Asset Controls: Today, the Treasury Inspector General for Tax Administration (TIGTA) issued a report finding that the IRS should improve management controls over its information technology hardware asset inventory to reduce lost and missing computers, servers, and smartphones.