Muammar
IBX-Jakarta. The OECD’s Committee on Fiscal Affairs (CFA) has chosen Mr. Tim Power, who serves as the Deputy Director for Business and International Tax at His Majesty’s Treasury in the United Kingdom, to take over as the Chair of the Committee starting from December 18, 2023. He succeeds Mr. Gaël Perraud, who stepped down in December 2023 due to his transition to a new role within the French Ministry of Finance.
In his new role as Chair of the CFA, Mr. Power will also function as Co-Chair of the OECD/G20 Inclusive Framework on BEPS, alongside Ms. Marlene Nembhard-Parker of Jamaica, who assumed the Co-Chair position in March 2022.
At His Majesty’s Treasury, Mr. Power and his team hold primary responsibility for corporation tax, overseeing tax base design, protection measures, transfer pricing, and tax treaties. They also manage other taxes related to incorporated businesses and those specific to the financial sector. Mr. Power has extensive experience representing the United Kingdom in multilateral discussions at the OECD, starting from the initiation of the Base Erosion and Profit Shifting (BEPS) project in 2013. Notably, he has been actively engaged in the Steering Group of the OECD/G20 Inclusive Framework on BEPS for an extended period. More recently, he took on the role of Co-Chair of the Task Force for the Digital Economy, contributing to finalizing the Multilateral Convention (MLC) aimed at implementing Amount A of Pillar One. This is a significant aspect of the Two-Pillar Solution addressing tax challenges posed by the digitalization of the economy. The MLC facilitates a redistribution of taxing rights to market jurisdictions concerning a portion of profits earned by the largest and most profitable multinational enterprises operating in those markets. Moreover, it enhances tax certainty and eliminates digital service taxes.
The CFA serves as the principal platform within the OECD for discussions on taxation, encompassing international and domestic tax issues, tax policy, and administration. It relies heavily on robust partnerships with OECD members and the active involvement of numerous non-OECD, G20, and developing countries on an equitable basis. Notably, a significant portion of the CFA’s work is conducted through the Inclusive Framework on BEPS, which presently includes 145 members.
Source: UK’s Tim Power elected new Chair of the OECD Committee on Fiscal Affairs – OECD
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