Covid-19 virus spread is having a significant impact on countries around the world and tax administrations have contingency plans for how to respond to a crisis, however, no contingency plan would have prepared for the scenario we now find ourselves in. Tax administrations are introducing measures to support taxpayers and ensure business continuity and are also considering what further measures will be necessary as the full impact of the virus is felt.
IOTA will continue to support its members during these challenging times by acting as a conduit for the exchanging of experiences and sharing of best practices on important issues and current developments concerning practical aspects of tax administration.
In response to the Covid-19 crisis, IOTA is collaborating with CIAT and OECD to provide administrations with a list of measures taken by tax administrations around the world. A directory will be published which collates specific country examples, as well as any relevant general observations, which can assist members in their domestic considerations of possible measures to support taxpayers and ensure business continuity during the Covid-19 pandemic. The directory will be a living document and updated frequently to reflect further developments.
The OECD FTA has already collated information about the measures being taken by around 30 countries to ease the burdens on taxpayers and to support businesses and individuals with cash flow problems, with difficulties in meeting tax reporting or payment obligations, or otherwise facing hardship.
In addition, the OECD has set up a discussion forum on the Knowledge Sharing Platform where countries can share experiences and upload key documents outlining their response to the crisis.
A further report will be published on 3 April incorporating data gathered from IOTA and CIAT. In order to contribute to this report, we will be sending out a questionnaire to our non-FTA members requesting information on the measures they have adopted to date in response to the Covid-19 crisis.
For further information please visit our Covid-19 Crisis Support page.