IGF on Mining, Minerals, Metals and Sustainable Development – AGM
One of our Program Directors, James Reynolds, attended the AGM of the Intergovernmental Forum (IGF) on Mining, Minerals, Metals and Sustainable Development on Friday 20th October. This Forum’s AGM provides a unique opportunity to engage with Government officials from the IGF’s 62 member nations and representatives from industry, civil society, and academia.
James joined the AGM for the workshop and launch of the IGF’s new project to provide Guidance for Governments Countering Tax Base Erosion and Profit Shifting (BEPS) in the Mining Sector (conducted in collaboration with the OECD).
BEPS was identified by IGF member country governments as a primary collective concern.
The workshop he attended was designed to provide an initial discussion point on five major challenges:
- Transfer Pricing
- Mineral Product Pricing
- Excessive interest deductions
- Tax incentives
- Investment treaties and stability agreements
There are two phases to the applied program’s model.
During the first phase three key principles guide the program: 1) Adapting existing guidance on international tax issues to be specific to the mining sector 2) Filling vital gaps in available resources 3) Keeping administrative capacity in mind.
Following on from this, in Phase 2, the IGF will deliver a menu of training options for member country governments based on the work produced in Phase 1. This will be a mix of annual training events on BEPS issues, as well as country-specific trainings and direct advisory services.
James said “ISLP is delighted to have been asked to collaborate with IGF on this important project in support of fairer taxation in the mining sector.”
For further information see here.