Paul L. Caron

Thursday, February 17, 2022

Hugh Ault & Diane Ring: The Ever Evolving World Of Tax

Boston College Law School Magazine, The Ever Evolving World of Tax:

Ault RingInterim BC Law Dean Diane M. Ring and Professor Emeritus Hugh J. Ault have spent decades studying taxation at home and abroad. Both have consulted to the United Nations on strengthening tax systems in developing countries. Recently, Ault saw the successful results of his work with the Organization for Economic Cooperation and Development (OECD) to establish principles for the possible application of a global minimum tax, and Ring explored the rise of the sharing economy and its implications for US tax law, as well as IRS policies and declining resources. Here they discuss some current developments and concerns in those areas.

HA: Countries are increasingly aware of the importance of cooperation in international tax matters. What I’ve found most satisfying is the development of the OECD from this tight club of some thirty-five high-income countries—of which South Korea was the last to join—into the so-called Inclusive Framework, which is now more than 130 countries. It is an international tax organization that we wouldn’t have dreamed was possible in 1998 when I began working with the OECD.

DR: There’s also more attention paid to the fact that countries have different needs. The top tax priorities of developing nations looking for a path to stable revenue may look different both from more developed countries and from each other, depending on their domestic infrastructure, economic position, existing network of tax agreements and tools, and substantive tax system.

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