Overview
On April 14th the WTO issued a decision that will significantly affect multilateral initiatives on tax transparency, including the work of the Global Forum. In its decision in Argentina – Measures Relating to Trade in Goods and Services, the WTO Appellate Body ruled that a set of defensive tax measures maintained by Argentina are not inconsistent with the General Agreement on Trade in Services (GATS). The Appellate Body's decision rejected claims by Panama that these types of measures are inconsistent with the obligations of most-favoured nation and national treatment under the GATS. The ruling effectively ensures that WTO Members may continue to maintain laws and regulations that protect national tax revenues against the harmful consequences of taxpayers engaging in transactions with non-transparent jurisdictions. Steptoe represented the Government of Argentina in this dispute. To read more, please click here.
