2017/SOM3/DIA/005. GATS Plus - Services. Submitted by: Australia

Size: px
Start display at page:

Download "2017/SOM3/DIA/005. GATS Plus - Services. Submitted by: Australia"

Transcription

1 2017/SOM3/DIA/005 GATS Plus - Services Submitted by: Australia Dialogue on Regional Trade Agreements and Free Trade Agreements Ho Chi Minh City, Viet Nam 27 August 2017

2 GATS PLUS SERVICES Ambassador Simon Newnham Sunday, August 27, 2017

3 12 World services trade ($US m) Transport Travel Other Total

4 Composition of Australian and World Trade in Services 2016 Australia's services exports by broad type World's services exports by broad type Other 28.6% Transport 10.2% Transport 17.5% Other 57.8% Travel 24.7% Travel 61.2% Australia's services imports by broad type World's services imports by broad type Other 33.8% Transport 21.8% Transport 21.4% Other 53.7% Travel 25.0% Travel 44.4%

5 45 Per cent Participation in Global Value Chains* (1995 vs 2011) Switzerland Netherlands Iceland Australia Chile Japan Norway Luxembourg Mexico Turkey Ireland New Zealand Hungary Portugal Greece Canada Israel Czech Republic Spain Korea Estonia Slovak Republic Italy France Slovenia Finland Poland Belgium Latvia Denmark Germany Austria Sweden United Kingdom United States * Measured as the domestic content embodied in foreign exports as a percentage of total exports

6 AUSTRALIA AND SERVICES Pushing the envelope to get better access for services suppliers is important for Australia. Service sector produces ~70% of Australia s GDP and accounts for more than 4 out of 5 jobs. Services contribution to total exports is under estimated it may be more than 40 per cent. In 2016, Australia s 3 rd largest export was education services (after iron ore and coal) 5

7 WORLD TRADE ORGANIZATION GENERAL AGREEMENT ON TRADE IN SERVICES (GATS) GATS over 20 years old a landmark multilateral outcome Covered all four modes of supply Contained two main types of commitments: Market access commitments (MA, NT, MFN) Other rules (e.g. transparency, domestic regulation etc), to ensure market access gains weren t undermined. 6

8 WORLD TRADE ORGANIZATION GENERAL AGREEMENT ON TRADE IN SERVICES (GATS) Australia was and remains a demandeur on services GATS contains an in built agenda both market access and rules but progress has been difficult Australia has pursued bilateral and plurilateral agreements in the absence of progress in the WTO As I have said, APEC and other multilateral bodies also useful in exploring GATS Plus ideas Title of Presentation 7

9 WHAT IS GATS PLUS? In GATS, currently two types of disciplines: Market access commitments (MA, NT, MFN), Other rules (e.g. transparency, domestic regulation etc) To qualify as GATS Plus, a discipline should be an extension or update of GATS rules, and/or result in greater market access. 8

10 WHAT IS GATS PLUS NEGATIVE LISTING Australia s preference is to use a negative list approach to scheduling market access commitments in FTAs/RTAs Negative list is an inherently more liberalising approach aims to at least lock in current levels of openness and minimise broad policy space reservations Ratchet mechanism locks in future liberalisation 9

11 WHAT IS GATS PLUS NEW RULES More specific or expanded rules in some services sectors or areas, e.g. Telecommunications Financial services Professional services Air transport services Domestic regulation/transparency Completely new rules in other services trade areas, e.g. E commerce/digital trade More ambition and sensitivity means that we also need new ways of dealing with that sensitivity. 10

12 WHAT IS GATS PLUS ELECTRONIC COMMERCE E commerce provisions are becoming more commonplace in FTAs reflects the increasing importance of the digital economy and digital trade. Gradual evolution from provisions relating to paperless trading and online consumer protection to cross border data flows and localisation Australia remains a strong advocate for pursuing e commerce outcomes within the WTO 11

13 WHAT IS GATS PLUS TELECOMMUNICATIONS Telecommunications specific commitments were included in GATS but there have been rapid technological and regulatory developments since the Uruguay Round. The focus has been to enable access to and use of key aspects of telecommunications infrastructure by service suppliers on reasonable terms and conditions. Recent FTAs have attempted to address new issues like: international mobile roaming (IMR) and international submarine cable systems. 12

14 WHAT IS GATS PLUS AIR TRANSPORT SERVICES Air traffic rights are not covered under the WTO Covered Agreements or FTAs. Air transport services are particularly important for international trade, but the GATS only covered: aircraft repair and maintenance, computer reservation system services, and selling and marketing of air transport services. Recent FTAs have included three GATS plus air transport services: 13 ground handling services, airport operation services, and speciality air services.

15 AUSTRALIAN GATS PLUS EXAMPLES Korea is an important trading partner, including for Australia The Korea Australia Free Trade Agreement provides a good example of GATS Plus elements Telecommunications Financial services Mutual recognition 14

16 MULTILATERAL CONTEXT What is Australia doing to try to go GATS Plus in a multilateral context? driving a Domestic Regulation proposal key player on finding way forward on e commerce Australia is co Chair of Trade in Services Agreement (TiSA) negotiations underway In APEC, we support initiatives that build familiarity with GATS Plus rules and concepts including by organising Trade Policy Dialogues in CTI to examine services and other WTO Plus elements of RTAs and FTAs. 15

17 TRADE IN SERVICES AGREEMENT Aims to set a new standard in services trade commitments by capturing progress made through unilateral liberalisation and in FTAs, and developing new trade rules in areas where there have been significant developments since the Uruguay Round. Hybrid scheduling approach Australia and other negotiating Parties consider that TiSA provides the best opportunity to multilateralise developments in services trade 16

18 CONCLUSION Australia is and continues to be a strong advocate for GATS Plus approaches to services, as well as innovative approaches to new rules in other areas of our trade agenda. We see APEC as playing an important role in building familiarity with and exchanging information on GATS Plus elements in trade rules. Thank you. 17

19

Corrigendum. OECD Pensions Outlook 2012 DOI: ISBN (print) ISBN (PDF) OECD 2012

Corrigendum. OECD Pensions Outlook 2012 DOI:   ISBN (print) ISBN (PDF) OECD 2012 OECD Pensions Outlook 2012 DOI: http://dx.doi.org/9789264169401-en ISBN 978-92-64-16939-5 (print) ISBN 978-92-64-16940-1 (PDF) OECD 2012 Corrigendum Page 21: Figure 1.1. Average annual real net investment

More information

Approach to Employment Injury (EI) compensation benefits in the EU and OECD

Approach to Employment Injury (EI) compensation benefits in the EU and OECD Approach to (EI) compensation benefits in the EU and OECD The benefits of protection can be divided in three main groups. The cash benefits include disability pensions, survivor's pensions and other short-

More information

Recommendation of the Council on Tax Avoidance and Evasion

Recommendation of the Council on Tax Avoidance and Evasion Recommendation of the Council on Tax Avoidance and Evasion OECD Legal Instruments This document is published under the responsibility of the Secretary-General of the OECD. It reproduces an OECD Legal Instrument

More information

PENSIONS IN OECD COUNTRIES: INDICATORS AND DEVELOPMENTS

PENSIONS IN OECD COUNTRIES: INDICATORS AND DEVELOPMENTS PENSIONS IN OECD COUNTRIES: INDICATORS AND DEVELOPMENTS Marius Lüske Directorate for Employment, Labour and Social Affairs, OECD Lisbon, 28.09.2018 Marius.LUSKE@oecd.org www.oecd.org/els OUTLINE Talk based

More information

Sources of Government Revenue in the OECD, 2016

Sources of Government Revenue in the OECD, 2016 FISCAL FACT No. 517 July, 2016 Sources of Government Revenue in the OECD, 2016 By Kyle Pomerleau Director of Federal Projects Kevin Adams Research Assistant Key Findings OECD countries rely heavily on

More information

Sources of Government Revenue in the OECD, 2018

Sources of Government Revenue in the OECD, 2018 FISCAL FACT No. 581 Mar. 2018 Sources of Government Revenue in the OECD, 2018 Amir El-Sibaie Analyst Key Findings In 2015, OECD countries relied heavily on consumption taxes, such as the value-added tax,

More information

Sources of Government Revenue in the OECD, 2017

Sources of Government Revenue in the OECD, 2017 FISCAL FACT No. 558 Aug. 2017 Sources of Government Revenue in the OECD, 2017 Amir El-Sibaie Analyst Key Findings: OECD countries rely heavily on consumption taxes, such as the value-added tax, and social

More information

Low employment among the 50+ population in Hungary

Low employment among the 50+ population in Hungary Low employment among the + population in Hungary The role of incentives, health and cognitive capacities Janos Divenyi (Central European University) and Gabor Kezdi (Central European University and IE-CRSHAS)

More information

Reporting practices for domestic and total debt securities

Reporting practices for domestic and total debt securities Last updated: 27 November 2017 Reporting practices for domestic and total debt securities While the BIS debt securities statistics are in principle harmonised with the recommendations in the Handbook on

More information

HEALTH LABOUR MARKET TRENDS IN OECD COUNTRIES

HEALTH LABOUR MARKET TRENDS IN OECD COUNTRIES HEALTH LABOUR MARKET TRENDS IN OECD COUNTRIES Michael Schoenstein, OECD Health Division 3 rd Global Health Workforce Alliance Forum Recife, 11 November 2013 Main health labour market issues in OECD countries

More information

Sources of Government Revenue in the OECD, 2014

Sources of Government Revenue in the OECD, 2014 FISCAL FACT Nov. 2014 No. 443 Sources of Government Revenue in the OECD, 2014 By Kyle Pomerleau Economist Key Findings OECD countries rely heavily on consumption taxes, such as the value added tax, and

More information

TAX POLICY CENTER BRIEFING BOOK. Background. Q. What are the sources of revenue for the federal government?

TAX POLICY CENTER BRIEFING BOOK. Background. Q. What are the sources of revenue for the federal government? What are the sources of revenue for the federal government? FEDERAL BUDGET 1/4 Q. What are the sources of revenue for the federal government? A. About 48 percent of federal revenue comes from individual

More information

Guidance on Transfer Pricing Documentation and Country-by-Country Reporting

Guidance on Transfer Pricing Documentation and Country-by-Country Reporting OECD/G20 Base Erosion and Profit Shifting Project Guidance on Transfer Pricing Documentation and Country-by-Country Reporting ACTION 13: 2014 Deliverable ANNEX II TO CHAPTER V. TRANSFER PRICING DOCUMENTATION

More information

Burden of Taxation: International Comparisons

Burden of Taxation: International Comparisons Burden of Taxation: International Comparisons Standard Note: SN/EP/3235 Last updated: 15 October 2008 Author: Bryn Morgan Economic Policy & Statistics Section This note presents data comparing the national

More information

Declaration on Environmental Policy

Declaration on Environmental Policy Declaration on Environmental Policy OECD Legal Instruments This document is published under the responsibility of the Secretary-General of the OECD. It reproduces an OECD Legal Instrument and may contain

More information

The Case for Fundamental Tax Reform: Overview of the Current Tax System

The Case for Fundamental Tax Reform: Overview of the Current Tax System The Case for Fundamental Tax Reform: Overview of the Current Tax System Sources of Federal Receipts Projected for 2016 Excise Taxes 2.9% Estate & Gift Taxes 0.6% Corporate Income Taxes 9.8% Other Taxes

More information

Sources of Government Revenue across the OECD, 2015

Sources of Government Revenue across the OECD, 2015 FISCAL FACT Apr. 2015 No. 465 Sources of Government Revenue across the OECD, 2015 By Kyle Pomerleau Economist Key Findings OECD countries rely heavily on consumption taxes, such as the value added tax,

More information

Public Pension Spending Trends and Outlook in Emerging Europe. Benedict Clements Fiscal Affairs Department International Monetary Fund March 2013

Public Pension Spending Trends and Outlook in Emerging Europe. Benedict Clements Fiscal Affairs Department International Monetary Fund March 2013 Public Pension Spending Trends and Outlook in Emerging Europe Benedict Clements Fiscal Affairs Department International Monetary Fund March 13 Plan of Presentation I. Trends and drivers of public pension

More information

Pension Fund Investment and Regulation - An International Perspective and Implications for China s Pension System

Pension Fund Investment and Regulation - An International Perspective and Implications for China s Pension System Pension Fund Investment and Regulation - An International Perspective and Implications for China s Pension System Yu-Wei Hu, Fiona Stewart and Juan Yermo Financial Affairs Division OECD, Paris OECD/IOPS

More information

OECD HEALTH SYSTEM CHARACTERISTICS SURVEY 2012

OECD HEALTH SYSTEM CHARACTERISTICS SURVEY 2012 OECD HEALTH SYSTEM CHARACTERISTICS SURVEY 2012 Emily Hewlett OECD Health Data National Correspondents and Health Accounts Experts Meeting, 17 th October 2013 Health System Characteristics Survey 2012 HSC

More information

Statistical annex. Sources and definitions

Statistical annex. Sources and definitions Statistical annex Sources and definitions Most of the statistics shown in these tables can be found as well in several other (paper or electronic) publications or references, as follows: the annual edition

More information

Third Revised Decision of the Council concerning National Treatment

Third Revised Decision of the Council concerning National Treatment Third Revised Decision of the Council concerning National Treatment OECD Legal Instruments This document is published under the responsibility of the Secretary-General of the OECD. It reproduces an OECD

More information

Open Day 2017 Clearstream execution-to-custody integration Valentin Nehls / Jan Willems. 5 October 2017

Open Day 2017 Clearstream execution-to-custody integration Valentin Nehls / Jan Willems. 5 October 2017 Open Day 2017 Clearstream execution-to-custody integration Valentin Nehls / Jan Willems 5 October 2017 Deutsche Börse Group 1 Settlement services: single point of access to cost-effective, low risk and

More information

Recommendation of the Council on the Implementation of the Polluter-Pays Principle

Recommendation of the Council on the Implementation of the Polluter-Pays Principle Recommendation of the Council on the Implementation of the Polluter-Pays Principle OECD Legal Instruments This document is published under the responsibility of the Secretary-General of the OECD. It reproduces

More information

Priorities for Productivity and Income (PPIs) Country Results

Priorities for Productivity and Income (PPIs) Country Results Priorities for Productivity and Income (PPIs) Country Results Bolivia Alejandro Izquierdo Jimena Llopis Umberto Muratori Jose Juan Ruiz 2015 Priorities for Productivity and Income (PPIs) Country Results

More information

OECD Report Shows Tax Burdens Falling in Many OECD Countries

OECD Report Shows Tax Burdens Falling in Many OECD Countries OECD Centres Germany Berlin (49-30) 288 8353 Japan Tokyo (81-3) 5532-0021 Mexico Mexico (52-55) 5281 3810 United States Washington (1-202) 785 6323 AUSTRALIA AUSTRIA BELGIUM CANADA CZECH REPUBLIC DENMARK

More information

8-Jun-06 Personal Income Top Marginal Tax Rate,

8-Jun-06 Personal Income Top Marginal Tax Rate, 8-Jun-06 Personal Income Top Marginal Tax Rate, 1975-2005 2005 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 Australia 47% 47% 47% 47% 47% 47% 47% 47% 47% 47% 47% 48% 49% 49% Austria

More information

BETTER POLICIES FOR A SUCCESSFUL TRANSITION TO A LOW-CARBON ECONOMY

BETTER POLICIES FOR A SUCCESSFUL TRANSITION TO A LOW-CARBON ECONOMY BETTER POLICIES FOR A SUCCESSFUL TRANSITION TO A LOW-CARBON ECONOMY Rintaro Tamaki Deputy Secretary-General, OECD International Forum for Sustainable Asia and the Pacific (ISAP)1 Yokohama, July 1 Four

More information

TAXATION OF TRUSTS IN ISRAEL. An Opportunity For Foreign Residents. Dr. Avi Nov

TAXATION OF TRUSTS IN ISRAEL. An Opportunity For Foreign Residents. Dr. Avi Nov TAXATION OF TRUSTS IN ISRAEL An Opportunity For Foreign Residents Dr. Avi Nov Short Bio Dr. Avi Nov is an Israeli lawyer who represents taxpayers, individuals and entities. Areas of Practice: Tax Law,

More information

Programme for Government Joe Reynolds Director Programme for Government and Delivering Social Change

Programme for Government Joe Reynolds Director Programme for Government and Delivering Social Change Programme for Government 2016-21 Joe Reynolds Director Programme for Government and Delivering Social Change Context the rationale for change Current PfG is a list of 82 Commitments Executive record on

More information

The OECD s Society at a Glance Simon Chapple OECD ELS/SPD Villa Vigoni, Italy, 9-11 th March 2011

The OECD s Society at a Glance Simon Chapple OECD ELS/SPD Villa Vigoni, Italy, 9-11 th March 2011 The OECD s Society at a Glance 2 Simon Chapple OECD ELS/SPD Villa Vigoni, Italy, 9- th March 2 Reconceptualisation for 2: Internal reasons OECD growth from 3 to 34 countries Other major economies (e.g.

More information

CANADA EUROPEAN UNION

CANADA EUROPEAN UNION THE EUROPEAN UNION S PROFILE Economic Indicators Gross domestic product (GDP) at purchasing power parity (PPP): US$20.3 trillion (2016) GDP per capita at PPP: US$39,600 (2016) Population: 511.5 million

More information

Switzerland and Germany top the PwC Young Workers Index in developing younger people

Switzerland and Germany top the PwC Young Workers Index in developing younger people Press release Date 9 November 2015 Contact Mihnea Anastasiu Pages 5 Media Relations Manager Tel: +40 21 225 3546 Email: mihnea.anastasiu@ro.pwc.com Switzerland and Germany top the PwC Young Workers Index

More information

EUROPEAN UNION SOUTH KOREA TRADE AND INVESTMENT 5 TH ANNIVERSARY OF THE FTA. Delegation of the European Union to the Republic of Korea

EUROPEAN UNION SOUTH KOREA TRADE AND INVESTMENT 5 TH ANNIVERSARY OF THE FTA. Delegation of the European Union to the Republic of Korea EUROPEAN UNION SOUTH KOREA TRADE AND INVESTMENT 5 TH ANNIVERSARY OF THE FTA 2016 Delegation of the European Union to the Republic of Korea 16 th Floor, S-tower, 82 Saemunan-ro, Jongno-gu, Seoul, Korea

More information

Growth in OECD Unit Labour Costs slows to 0.4% in the third quarter of 2016

Growth in OECD Unit Labour Costs slows to 0.4% in the third quarter of 2016 Growth in OECD Unit Labour Costs slows to.4% in the third quarter of 26 Growth in unit labour costs (ULCs) in the OECD area slowed to.4% in the third quarter of 26 (compared with.6% in the previous quarter)

More information

Ways to increase employment

Ways to increase employment Ways to increase employment Iceland Luxembourg Spain Canada Italy Norway Denmark Germany Portugal Ireland Japan Belgium Switzerland Austria Slovenia United States New Zealand Finland France Netherlands

More information

A Comparison of the Tax Burden on Labor in the OECD, 2017

A Comparison of the Tax Burden on Labor in the OECD, 2017 FISCAL FACT No. 557 Aug. 2017 A Comparison of the Tax Burden on Labor in the OECD, 2017 Jose Trejos Research Assistant Kyle Pomerleau Economist, Director of Federal Projects Key Findings: Average wage

More information

2018 INTERNATIONAL CONFERENCE ON MUNICIPAL FISCAL HEALTH U.S. Tax Reform and Its Impact on State and Local Government Finance Presented by Jane L.

2018 INTERNATIONAL CONFERENCE ON MUNICIPAL FISCAL HEALTH U.S. Tax Reform and Its Impact on State and Local Government Finance Presented by Jane L. 2018 INTERNATIONAL CONFERENCE ON MUNICIPAL FISCAL HEALTH U.S. Tax Reform and Its Impact on State and Local Government Finance Presented by Jane L. Campbell ; Director NDC Washington Office National Development

More information

BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - APRIL 2017 (PRELIMINARY DATA)

BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - APRIL 2017 (PRELIMINARY DATA) BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - APRIL 2017 (PRELIMINARY DATA) In the period January - April 2017 Bulgarian exports to the EU increased by 8.6% 2016 and amounted to 10 418.6 Million BGN

More information

BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - MAY 2017 (PRELIMINARY DATA)

BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - MAY 2017 (PRELIMINARY DATA) BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - MAY 2017 (PRELIMINARY DATA) In the period January - May 2017 Bulgarian exports to the EU increased by 10.8% 2016 and added up to 13 283.0 Million BGN (Annex,

More information

10% 10% 15% 15% Caseload: WE. 15% Caseload: SS 10% 10% 15%

10% 10% 15% 15% Caseload: WE. 15% Caseload: SS 10% 10% 15% Percentchangeincaseload 15% 10% 5% 0% 5% 10% 15% Caseload: AO 0 1 2 3 4 5 Percentchangein caseload 15% 10% 5% 0% 5% 10% 15% Caseload: NC 0 1 2 3 4 5 Years Years Percentchangein caseload 15% 10% 5% 0% 5%

More information

The Global Tax Reset 2017 Audit Committee Symposium

The Global Tax Reset 2017 Audit Committee Symposium The Global Tax Reset Copyright 2017 Deloitte Development LLC. All rights reserved. 2017 Audit Committee Symposium Anticipate. Navigate. Focus. 1 The Global Tax Reset General context Multinational companies

More information

DANMARKS NATIONALBANK

DANMARKS NATIONALBANK DANMARKS NATIONALBANK WEALTH, DEBT AND MACROECONOMIC STABILITY Niels Lynggård Hansen, Head of Economics and Monetary Policy. IARIW, Copenhagen, 21 August 2018 Agenda Descriptive evidence on household debt

More information

NOTE. for the Interparliamentary Meeting of the Committee on Budgets

NOTE. for the Interparliamentary Meeting of the Committee on Budgets NOTE for the Interparliamentary Meeting of the Committee on Budgets THE ROLE OF THE EU BUDGET TO SUPPORT MEMBER STATES IN ACHIEVING THEIR ECONOMIC OBJECTIVES AS AGREED WITHIN THE FRAMEWORK OF THE EUROPEAN

More information

FCCC/SBI/2010/10/Add.1

FCCC/SBI/2010/10/Add.1 United Nations Framework Convention on Climate Change Distr.: General 25 August 2010 Original: English Subsidiary Body for Implementation Contents Report of the Subsidiary Body for Implementation on its

More information

COVERAGE OF PRIVATE PENSION SYSTEMS AND MAIN TRENDS IN THE PENSIONS INDUSTRY IN THE OECD

COVERAGE OF PRIVATE PENSION SYSTEMS AND MAIN TRENDS IN THE PENSIONS INDUSTRY IN THE OECD COVERAGE OF PRIVATE PENSION SYSTEMS AND MAIN TRENDS IN THE PENSIONS INDUSTRY IN THE OECD Fafo Pension Forum Oslo, 16 November 2012 Stéphanie Payet OECD Financial Affairs Division Structure of the Presentation

More information

Budget repair and the changing size of Australia s government. Crawford Australian Leadership Forum John Daley, Grattan Institute June 2016

Budget repair and the changing size of Australia s government. Crawford Australian Leadership Forum John Daley, Grattan Institute June 2016 Budget repair and the changing size of Australia s government Crawford Australian Leadership Forum John Daley, Grattan Institute June 2016 Commonwealth expenditure is high relative to history; revenue

More information

Statistical Annex. Sources and definitions

Statistical Annex. Sources and definitions Statistical Annex Sources and definitions Most of the statistics shown in these tables can also be found in two other (paper or electronic) publication and data repository, as follows: The annual edition

More information

Financial wealth of private households worldwide

Financial wealth of private households worldwide Economic Research Financial wealth of private households worldwide Munich, October 217 Recovery in turbulent times Assets and liabilities of private households worldwide in EUR trillion and annualrate

More information

axia Axia Economics Civil-service pension schemes Edward Whitehouse Civil-Service World Bank core course Washington DC, April 2016

axia Axia Economics Civil-service pension schemes Edward Whitehouse Civil-Service World Bank core course Washington DC, April 2016 Public Disclosure Authorized Civil-Service Civil-service pension schemes Public Disclosure Authorized Edward Whitehouse Public Disclosure Authorized World Bank core course Washington DC, April 2016 axia

More information

STOXX EMERGING MARKETS INDICES. UNDERSTANDA RULES-BA EMERGING MARK TRANSPARENT SIMPLE

STOXX EMERGING MARKETS INDICES. UNDERSTANDA RULES-BA EMERGING MARK TRANSPARENT SIMPLE STOXX Limited STOXX EMERGING MARKETS INDICES. EMERGING MARK RULES-BA TRANSPARENT UNDERSTANDA SIMPLE MARKET CLASSIF INTRODUCTION. Many investors are seeking to embrace emerging market investments, because

More information

Investing for our Future Welfare. Peter Whiteford, ANU

Investing for our Future Welfare. Peter Whiteford, ANU Investing for our Future Welfare Peter Whiteford, ANU Investing for our future welfare Presentation to Jobs Australia National Conference, Canberra, 20 October 2016 Peter Whiteford, Crawford School of

More information

LONG-TERM PROJECTIONS OF PUBLIC PENSION EXPENDITURE

LONG-TERM PROJECTIONS OF PUBLIC PENSION EXPENDITURE 7. FINANCES OF RETIREMENT-INCOME SYSTEMS LONG-TERM PROJECTIONS OF PUBLIC PENSION EXPENDITURE Key results Public spending on pensions has been on the rise in most OECD countries for the past decades, as

More information

Collective Bargaining in OECD and accession countries

Collective Bargaining in OECD and accession countries Collective Bargaining in OECD and accession countries www.oecd.org/employment/collective-bargaining.htm The, ultra-activity and retro-activity of collective agreements The detailed description of the building

More information

Rev. Proc Implementation of Nonresident Alien Deposit Interest Regulations

Rev. Proc Implementation of Nonresident Alien Deposit Interest Regulations Rev. Proc. 2012-24 Implementation of Nonresident Alien Deposit Interest Regulations SECTION 1. PURPOSE Sections 1.6049-4(b)(5) and 1.6049-8 of the Income Tax Regulations, as revised by TD 9584, require

More information

Ageing and employment policies: Ireland

Ageing and employment policies: Ireland Ageing and employment policies: Ireland John Martin 1 Director for Employment, Labour and Social Affairs, OECD FÁS Annual Labour Market Conference, Dublin, 5 December 2005 OECD has carried out a major

More information

Statistics Brief. Investment in Inland Transport Infrastructure at Record Low. Infrastructure Investment. July

Statistics Brief. Investment in Inland Transport Infrastructure at Record Low. Infrastructure Investment. July Statistics Brief Infrastructure Investment July 2015 Investment in Inland Transport Infrastructure at Record Low The latest update of annual transport infrastructure investment and maintenance data collected

More information

Household Financial Wealth By Selected Country

Household Financial Wealth By Selected Country Household Financial Wealth By Selected Country US$ Trillions 60 50-37% Indicates Projected Shortfall 40 30 20 Extrapolation of Historical Growth 2003-24 Projection (Based on Demographic Trends) -47% -34%

More information

Statistics Brief. OECD Countries Spend 1% of GDP on Road and Rail Infrastructure on Average. Infrastructure Investment. June

Statistics Brief. OECD Countries Spend 1% of GDP on Road and Rail Infrastructure on Average. Infrastructure Investment. June Statistics Brief Infrastructure Investment June 212 OECD Countries Spend 1% of GDP on Road and Rail Infrastructure on Average The latest update of annual transport infrastructure investment and maintenance

More information

Statistics: Fair taxation of the digital economy

Statistics: Fair taxation of the digital economy Statistics: Fair taxation of the digital economy Your reply: can be published with your personal information (I consent to the publication of all information in my contribution in whole or in part including

More information

Double Tax Treaties. Necessity of Declaration on Tax Beneficial Ownership In case of capital gains tax. DTA Country Withholding Tax Rates (%)

Double Tax Treaties. Necessity of Declaration on Tax Beneficial Ownership In case of capital gains tax. DTA Country Withholding Tax Rates (%) Double Tax Treaties DTA Country Withholding Tax Rates (%) Albania 0 0 5/10 1 No No No Armenia 5/10 9 0 5/10 1 Yes 2 No Yes Australia 10 0 15 No No No Austria 0 0 10 No No No Azerbaijan 8 0 8 Yes No Yes

More information

Spain France. England Netherlands. Wales Ukraine. Republic of Ireland Czech Republic. Romania Albania. Serbia Israel. FYR Macedonia Latvia

Spain France. England Netherlands. Wales Ukraine. Republic of Ireland Czech Republic. Romania Albania. Serbia Israel. FYR Macedonia Latvia Germany Belgium Portugal Spain France Switzerland Italy England Netherlands Iceland Poland Croatia Slovakia Russia Austria Wales Ukraine Sweden Bosnia-Herzegovina Republic of Ireland Czech Republic Turkey

More information

Public Financial Management (PFMx) Module

Public Financial Management (PFMx) Module Public Financial Management (PFMx) Module 4 The Annual Budget Preparation and Approval This training material is the property of the International Monetary Fund (IMF) and is intended for use in IMF Fiscal

More information

Recommendation of the Council on Establishing and Implementing Pollutant Release and Transfer Registers (PRTRs)

Recommendation of the Council on Establishing and Implementing Pollutant Release and Transfer Registers (PRTRs) Recommendation of the Council on Establishing and Implementing Pollutant Release and Transfer Registers (PRTRs) OECD Legal Instruments This document is published under the responsibility of the Secretary-General

More information

Improving the quality of policymaking and government spending: A review of budgetary and regulatory instruments and the perspective of OECD countries

Improving the quality of policymaking and government spending: A review of budgetary and regulatory instruments and the perspective of OECD countries Improving the quality of policymaking and government spending: A review of budgetary and regulatory instruments and the perspective of OECD countries Luiz De Mello Deputy Director Public Governance & Territorial

More information

Stronger growth, but risks loom large

Stronger growth, but risks loom large OECD ECONOMIC OUTLOOK Stronger growth, but risks loom large Ángel Gurría OECD Secretary-General Álvaro S. Pereira OECD Chief Economist ad interim Paris, 3 May Global growth will be around 4% Investment

More information

DEVELOPMENT AID AT A GLANCE

DEVELOPMENT AID AT A GLANCE DEVELOPMENT AID AT A GLANCE STATISTICS BY REGION 5. EUROPE 6 edition 5.. ODA TO EUROPE - SUMMARY 5... Top ODA receipts by recipient USD million, net disbursements in 5... Trends in ODA Turkey % Ukraine

More information

Summary of key findings

Summary of key findings 1 VAT/GST treatment of cross-border services: 2017 survey Supplies of e-services to consumers (B2C) (see footnote 1) Supplies of e-services to businesses (B2B) 1(a). Is a non-resident 1(b). If there is

More information

Working Party on International Trade in Goods and Trade in Services Statistics

Working Party on International Trade in Goods and Trade in Services Statistics Unclassified STD/TBS/WPTGS(2012)32 Organisation de Coopération et de Développement Économiques Organisation for Economic Co-operation and Development 03-Oct-2012 English - Or. English STATISTICS DIRECTORATE

More information

The Outlook for the U.S. Economy and the Policies of the New President

The Outlook for the U.S. Economy and the Policies of the New President The Outlook for the U.S. Economy and the Policies of the New President Jason Furman Senior Fellow, PIIE SNS/SHOF Finance Panel Stockholm June 12, 2017 Peterson Institute for International Economics 1750

More information

Guidance on Transfer Pricing Documentation and Country-by-Country Reporting

Guidance on Transfer Pricing Documentation and Country-by-Country Reporting OECD/G20 Base Erosion and Profit Shifting Project Guidance on Transfer Pricing Documentation and Country-by-Country Reporting ACTION 13: 2014 Deliverable ANNEX III TO CHAPTER V. A MODEL TEMPLATE FOR THE

More information

Table 1: Foreign exchange turnover: Summary of surveys Billions of U.S. dollars. Number of business days

Table 1: Foreign exchange turnover: Summary of surveys Billions of U.S. dollars. Number of business days Table 1: Foreign exchange turnover: Summary of surveys Billions of U.S. dollars Total turnover Number of business days Average daily turnover change 1983 103.2 20 5.2 1986 191.2 20 9.6 84.6 1989 299.9

More information

EU BUDGET AND NATIONAL BUDGETS

EU BUDGET AND NATIONAL BUDGETS DIRECTORATE GENERAL FOR INTERNAL POLICIES POLICY DEPARTMENT ON BUDGETARY AFFAIRS EU BUDGET AND NATIONAL BUDGETS 1999-2009 October 2010 INDEX Foreward 3 Table 1. EU and National budgets 1999-2009; EU-27

More information

TRADE IN GOODS OF BULGARIA WITH EU IN THE PERIOD JANUARY - JUNE 2018 (PRELIMINARY DATA)

TRADE IN GOODS OF BULGARIA WITH EU IN THE PERIOD JANUARY - JUNE 2018 (PRELIMINARY DATA) TRADE IN GOODS OF BULGARIA WITH EU IN THE PERIOD JANUARY - JUNE 2018 (PRELIMINARY DATA) In the period January - June 2018 the exports of goods from Bulgaria to the EU increased by 10.7% 2017 and amounted

More information

Statistical Annex ANNEX

Statistical Annex ANNEX ISBN 92-64-02384-4 OECD Employment Outlook Boosting Jobs and Incomes OECD 2006 ANNEX Statistical Annex Sources and definitions Most of the statistics shown in these tables can be found as well in three

More information

Turkey s Saving Deficit Issue From an Institutional Perspective

Turkey s Saving Deficit Issue From an Institutional Perspective Turkey s Saving Deficit Issue From an Institutional Perspective Engin KURUN, Ph.D CEO, Ziraat Asset Management Oct. 25th, 2011 - Istanbul 1 PRESENTATION Household and Institutional Savings Institutional

More information

REFORMING PENSION SYSTEMS: THE OECD EXPERIENCE

REFORMING PENSION SYSTEMS: THE OECD EXPERIENCE REFORMING PENSION SYSTEMS: THE OECD EXPERIENCE IX Forum Nacional de Seguro de Vida e Previdencia Privada 12 June 2018, São Paulo Jessica Mosher, Policy Analyst, Private Pensions Unit of the Financial Affairs

More information

Lessons and Experiences of Mexico in Dealing with Issues Emerging from RTAs/FTAs Participation

Lessons and Experiences of Mexico in Dealing with Issues Emerging from RTAs/FTAs Participation 006/SOM/CTI/FTA-RTA/0 Lessons and Experiences of Mexico in Dealing with Issues Emerging from RTAs/FTAs Participation Submitted by: Mexico APEC Workshop on Best Practices in Trade Policy for RTAs/FTAs:

More information

THE SEARCH FOR FISCAL SPACE AND THE NEW CHALLENGES TO BUDGETING. 34 th annual meeting of Senior Budget Officials Paris, 3-4 June, 2013

THE SEARCH FOR FISCAL SPACE AND THE NEW CHALLENGES TO BUDGETING. 34 th annual meeting of Senior Budget Officials Paris, 3-4 June, 2013 THE SEARCH FOR FISCAL SPACE AND THE NEW CHALLENGES TO BUDGETING 34 th annual meeting of Senior Budget Officials Paris, 3-4 June, 2013 The overwhelming pressure of fiscal consolidation RPF 2012: 25 out

More information

International Statistical Release

International Statistical Release International Statistical Release This release and additional tables of international statistics are available on efama s website (www.efama.org). Worldwide Investment Fund Assets and Flows Trends in the

More information

ICT, knowledge and the economy 2012 Statistical annex

ICT, knowledge and the economy 2012 Statistical annex ICT, knowledge and the economy 2012 Statistical annex This annex includes some tables with supplementary figures to the publication ICT, knowledge and the economy 2012. The tables are arranged by chapter.

More information

Improving data on pharmaceuticals. Meeting of OECD Health Data National Correspondents 3-4 october 2011

Improving data on pharmaceuticals. Meeting of OECD Health Data National Correspondents 3-4 october 2011 Improving data on pharmaceuticals Meeting of OECD Health Data National Correspondents 3-4 october 2011 Purpose of this agenda item Present the current content of OECD health data on pharmaceuticals Propose

More information

COMPARISON OF RIA SYSTEMS IN OECD COUNTRIES

COMPARISON OF RIA SYSTEMS IN OECD COUNTRIES COMPARISON OF RIA SYSTEMS IN OECD COUNTRIES Nick Malyshev, OECD Conference on the Further Development of Impact Assessment in the European Union Brussels, RIA SYSTEMS IN OECD COUNTRIES Regulatory Impact

More information

Seventeenth Meeting of the IMF Committee on Balance of Payments Statistics Pretoria, October 26 29, 2004

Seventeenth Meeting of the IMF Committee on Balance of Payments Statistics Pretoria, October 26 29, 2004 BOPCOM-04/13 Seventeenth Meeting of the IMF Committee on Balance of Payments Statistics Pretoria, October 26 29, 2004 International Trade in Services Statistics Monitoring Progress on Implementation of

More information

The Coalition s Policy to Lower Company Tax

The Coalition s Policy to Lower Company Tax 1 Our Plan Real Solutions for all Australians The direction, values and policy priorities of the next Coalition Government. The Coalition s Policy to Lower Company Tax August 2013 Our Plan s Real Solution

More information

Fiscal Policy in Japan

Fiscal Policy in Japan Fiscal Policy in Japan - Issues and Future Directions- June 10th, 2015 Ministry of Finance General Government Gross Debt and Financial Balances (International Comparison) (%) 240 210 General Government

More information

Income support for older persons in the Republic of Korea : a perspective of older persons

Income support for older persons in the Republic of Korea : a perspective of older persons ESCAP Regional Consultation Incheon, Republic of Korea Income support for older persons in the Republic of Korea : a perspective of older persons Soo-Wan Kim (Kangnam University) 1 I. Introduction This

More information

International Statistical Release

International Statistical Release International Statistical Release This release and additional tables of international statistics are available on efama s website (www.efama.org) Worldwide Investment Fund Assets and Flows Trends in the

More information

SESSION 4A: EXPATRIATES AND INTERNATIONAL ASSIGNEES

SESSION 4A: EXPATRIATES AND INTERNATIONAL ASSIGNEES SESSION 4A: EXPATRIATES AND INTERNATIONAL ASSIGNEES A TAX GUIDE FOR AN EMPLOYER S FIRST TIME Hayley Lock KPMG Melissa Rowbottom Hatch Overview International tax framework Outbound from Australia Inbound

More information

Measuring and Reporting

Measuring and Reporting Measuring and Reporting Unfunded Pension Liabilities World Bank Pension Core Course Mauricio i Soto Fiscal Affairs Department IMF November 14, 2011 The views expressed herein are those of the author and

More information

Double-Taxing Capital Income: How Bad Is the Problem?

Double-Taxing Capital Income: How Bad Is the Problem? November 15, 2006 Double-Taxing Capital Income: How Bad Is the Problem? by Patrick Fleenor Fiscal Fact No. 71 Introduction Double taxation is a common and often misused expression in tax policy discussions.

More information

Enterprise Europe Network SME growth outlook

Enterprise Europe Network SME growth outlook Enterprise Europe Network SME growth outlook 2018-19 een.ec.europa.eu 2 Enterprise Europe Network SME growth outlook 2018-19 Foreword The European Commission wants to ensure that small and medium-sized

More information

Slovak Competitiveness: Fundamentals, Indicators and Challenges

Slovak Competitiveness: Fundamentals, Indicators and Challenges Copyright rests with the author Slovak Competitiveness: Fundamentals, Indicators and Challenges Presentation by Mark De Broeck European Department, IMF Seminar Organized by the European Commission November

More information

Introduction to Public Finance

Introduction to Public Finance Introduction to Public Finance Lecture 2: Functions and size of the welfare state. Retirement, unemployment protection, health care, etc. Welfare expenditures, aging problem. 1 Outline of the lecture Basic

More information

Performance Budgeting (PB) in OECD Countries

Performance Budgeting (PB) in OECD Countries Performance Budgeting (PB) in OECD Countries Teresa Curristine, Budgeting and Public Expenditures Division, Public Governance Directorate, OECD 6 th Annual Meeting of Latin American Senior Budget Officials

More information

International Statistical Release

International Statistical Release International Statistical Release This release and additional tables of international statistics are available on efama s website (www.efama.org). Worldwide Investment Fund Assets and Flows Trends in the

More information

Q&A. 1. Q: Why did the company feel the need to move to Ireland?

Q&A. 1. Q: Why did the company feel the need to move to Ireland? Q&A 1. Q: Why did the company feel the need to move to Ireland? A: As we continue to grow the international portion of our business, we believe that moving to a member state of the European Union (EU)

More information

Assessing Developments and Prospects in the Australian Welfare State

Assessing Developments and Prospects in the Australian Welfare State Assessing Developments and Prospects in the Australian Welfare State Presentation to OECD,16 November, 2016 Peter Whiteford, Crawford School of Public Policy https://socialpolicy.crawford.anu.edu.au/ peter.whiteford@anu.edu.au

More information

TAXATION (IMPLEMENTATION) (CONVENTION ON MUTUAL ADMINISTRATIVE ASSISTANCE IN TAX MATTERS) (AMENDMENT OF REGULATIONS No. 3) (JERSEY) ORDER 2017

TAXATION (IMPLEMENTATION) (CONVENTION ON MUTUAL ADMINISTRATIVE ASSISTANCE IN TAX MATTERS) (AMENDMENT OF REGULATIONS No. 3) (JERSEY) ORDER 2017 Taxation (Implementation) (Convention on Mutual Regulations No. 3) (Jersey) Order 2017 Article 1 TAXATION (IMPLEMENTATION) (CONVENTION ON MUTUAL ADMINISTRATIVE ASSISTANCE IN TAX MATTERS) (AMENDMENT OF

More information

International Statistical Release

International Statistical Release International Statistical Release This release and additional tables of international statistics are available on efama s website (www.efama.org). wide Regulated Open-ended Fund Assets and Flows Trends

More information