OECD announces new recommendations for auditors and consultants

The Organization for Economic Cooperation and Development has announced a new guideline with recommendations on the work of auditors and consultants in the field of tax law. The OECD notes that the update of the rules was the need to meet the new realities since the manual has not been updated since 2009.

The purpose of the new manual was to increase the level of awareness of tax inspectors and tax auditors in relation to the fight against money laundering and the financing of terrorism. Also, this manual describes the procedure for the detection of illegal actions and ways to contact the regulators.

The OECD recommends that all agencies and audit firms become familiar with the peculiarities of the new rules of action on the above facts. However, the organization notes that this Guide is not intended to describe in detail the methods of the criminal investigation. Therefore, tax inspectors and tax auditors, together with tax administrations, can better understand how they can effectively counter the fight against serious crimes.

In additions to the manual, it is indicated that the main territorial zone of the test of new rules will be jurisdictions with preferential taxation, as well as offshore countries. Therefore, it is important for agents and consultants to familiarize themselves with the prerequisites for working on a new benefit.

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