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UN Webinar on the COVID-19 Impact on Transfer Pricing

The COVID-19 outbreak is not only a health crisis, but a jobs crisis, a humanitarian crisis and a development crisis of unprecedented scale and dimension and it demands unprecedented efforts, including to finance the response and recovery.

The UN Webinar on the COVID-19 Impact on Transfer Pricing will be a 4-hour virtual learning event on the COVID-19 pandemic impact on the policy and administrative aspects of the transfer pricing analyses for developing countries in their efforts to mobilize domestic resources for response and recovery. Given the relevance of the topic to stakeholders from all regions and multiple disciplines, the event will be open to the public. The forthcoming update of the Manual on Transfer Pricing for Developing Countries, approved by UN Committee of Experts on International Cooperation in Tax Matters in its 21st Session, will be considered in light of the COVID-19-related crisis.

Register here!

The webinar is designed to:

• Give participants a better understanding of how the COVID-19 pandemic has disrupted business’ value chains and how the rapid changes and economic downturn have impacted the transfer pricing position of taxpayers and posed a challenge to tax administrations in assessing transfer prices under these circumstances.

• Identify some of the specific issues faced by developing countries on the impact of the COVID-19 pandemic on the transfer pricing position of their taxpayers and suggest practical solutions to these challenges.

• Give particular attention to the issue of the lack of local comparables to undertake the transfer pricing analysis based on the arm’s length principle. It is acknowledged that this issue is not exclusive of the COVID-19 pandemic, but has been exacerbated by it.

• It is acknowledged that while many businesses have incurred losses, some may have experienced extraordinary gains. It is important for developing countries to identify these different circumstances and have a better understanding of how to deal with extraordinary losses, as undue treatment of losses can further erode the tax base.

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit ngocsdvienna.org

[Monthly Meeting] NGO Committee on Financing for Development

Dear Colleagues,

We hope all of you are doing well.  This is a reminder for the next NGO Committee on Financing for Development meeting that will take place by Zoom on March 3 from 1:00- 3:00 pm EST.

Registration for access to the Zoom link available here: https://us02web.zoom.us/meeting/register/tZ0td-GspjsrHtfM9kwJmPggiJiHQMwHdCKc

Agenda includes:

  • Philipp Erfurth, Economic Affairs Officer, UN Financing for Sustainable Development Office will be providing a briefing on FfD matters
  • Briefing on the International Rescue Committee report “COVID-19 and Refugees’ Economic Opportunities, Financial Services and Digital Inclusion”
  • Anneleen Vos | Senior Policy Officer – Economic Programmes, International Rescue Committee and Prof Dr Hans-Martin Zademach , Katholische Universität Eichstätt-Ingolstadt in Germany

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Migration, please visit ngo-migration.org.

Linking Criminal Justice & the SDGs: Corruption Creates Wicked Legacies at Hazardous Sites

10th Session of the Conference of the Parties UN – Vienna official side event

Link :  us02web.zoom.us/j/81890759866

Meeting ID: 818 9075 9866

Kenncode: 599775

Programme

Welcome & Introduction: Ilona Graenitz, Chairperson Vienna NGO Committee on Sustainable Development “Prerequisites for achieving the SDGs”

Presentation: Univ. Prof. Drin. Verena Winiwarter, BOKU, Institute of Social Ecology “Eliminating and cleaning up of wicked legacies at hazardous sites by supporting transparent, public information and fighting corruption, thus providing a sound basis for achieving the SDGs”

Follow-up activities and a question/answer session to follow.

About wicked legacies at hazardous sites:

Advancing towards the Agenda 2030 goals hinges on progress with target “16.5: Substantially reduce corruption and bribery in all their forms” Corruption can lead to significant and serious environmental problems, if it jeopardizes the care, maintenance and clean-up of toxic legacy sites. These environmental problems can in particular impact women. The event makes a case for action and calls for a debate on an additional SDG Target, respectively indicators to draw attention to the dangers of toxic legacy sites worldwide; particularly in abandoned mines. The SDGs can only be achieved, if stocks as well as flows of toxic substances and pollutants are reduced and finally eliminated. Abandoned toxic sites and mines present not only challenges to the environment and people, but also a growing threat, as mines worldwide may increasingly be used for storing CO2 with possibly hazardous results due to chemical reactions. It is of utmost importance to clean up this toxic legacy and manage related risks, as this process is particularly vulnerable to corruption. A panel of experts will offer insight into the risks of toxic legacy sites; the problems of developing legal framework to minimize long-term environmental contamination and its negative impact on human health; and discuss the challenges of minimizing corruption in issues involving specialized technical knowledge. In order to underpin the rule of law and to expedite legal action respecting the “Polluter Pays” principle, the founding of an international High Court for Environment and Health under UN auspices is proposed.

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CoNGO Notes: For more information on the NGO Committee on Sustainable Development-Vienna, please visit ngocsdvienna.org. For more information on the NGO Committee on Sustainable Development-New York, please visit ngocsd-ny.org. For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org