June 28, 2017
Paris, 28 June 2017 — Business considers the responsible conduct of companies across markets as stipulated by the OECD MNE Guidelines to be an integral part of an open investment environment, while stressing the need for practical and manageable expectations. This is the central message of a high-level conference organized by Business at OECD (BIAC) today in Paris.
The OECD Guidelines include a unique implementation mechanism in the form of National Contact Points (NCPs). “The experience with the NCP system has been mixed. In some cases, it had a clear added value for companies, in other cases it was criticized. It is therefore important to have a common understanding among all stakeholders about the nature of the NCP process as a platform for mediation and problem-solving in good faith, which is different from legal litigation,” said Winand Quaedvlieg, Chair of the BIAC Committee on Investment and Responsible Business Conduct. Business will continue to work with the OECD to underline the conditions that must be in place to facilitate the proactive engagement of business in the process.
April 28, 2017
Paris, 28 April 2017 –“We need quick, coordinated and consistent action from G20 leaders to help improve the business and financing environment for SMEs or we risk missing out on their potential,” said Gianluca Riccio, Vice Chair of the Business at OECD Finance Task Force and author of the report. “The unintended consequences of domestic and cross border regulation, alongside access to finance and the challenges in transitioning to digital remain major barriers to growth for SMEs worldwide.”
Small and medium sized businesses remain constrained in their ability to access appropriate financing which is holding back their participation in international markets and global value chains. A new report from the Business at OECD and B20 calls on G20 leaders to follow three core recommendations to help solve this issue:
• Improve co-ordination and consultation when implementing regulation in the financial services sector
• Raise SME access to debt and equity finance by promoting successful private sector initiatives and sharing best practice
• Maximize access to data and sharing information through digital platforms, to help tackle global challenges such as cyber security
April 25, 2017
Paris, 25 April 2017 – Releasing a new policy paper today, Business at OECD identified priorities for OECD and governments to keep markets open and to better communicate their contribution to growth and prosperity.
“Consistent with our longstanding partnership with the OECD, we identified ten priorities that highlight significant challenges that affect our economies to benefit from trade, and how the OECD can help. Governments must address these priorities if we want to strengthen our potential for growth”, said Clifford Sosnow, Chair of the Business at OECD Trade Committee and Partner at the law firm Fasken Martineau DuMoulin LLP.
Business at OECD recognizes the unique role the OECD can play in developing analysis on trade that can guide policymakers and help inform the public. “More than ever, we need the OECD to illustrate the benefits of trade, including evidence on its contribution to jobs, growth, and prosperity”, said Bernhard Welschke, Secretary General of Business at OECD.
April 14, 2017
Paris, 14 April 2017 — “Business at OECD calls for continued work founded on the OECD VAT/GST Guidelines, with the aim to foster certainty and a global level playing field on VAT/GST indirect taxation”, said Karl-Heinz Haydl, Business Co-Chair of the OECD VAT Technical Advisory Group (TAG), at the 4th OECD Global Forum on VAT in Paris.
“Particularly when it comes to VAT/GST with business acting as tax collector, it is key to strike the right balance between safeguarding VAT/GST revenues for governments and keeping the administration costs and compliance burden for business low and manageable”, Haydl emphasized.
The OECD Global Forum on VAT, brings together over 300 government and business experts to explore how VAT/GST policies and their practical application around the world can safeguard VAT revenues and foster economic growth.
March 22, 2017
Paris, 22 March 2017 – “If we want to ensure future-oriented, sustainable economic growth, business has an important role to play. We are ready to do so.” said B20-President Jürgen Heraeus during the final meeting of all B20 working groups on Wednesday in Paris. Co-hosted by Business at OECD (BIAC), the working groups will use the conference and finalize their recommendations for the upcoming G20 Sherpa Meeting this week.
Following the G20 Motto Shaping an Interconnected World, Heraeus explained: “This cooperation offers the outstanding opportunity to shape global economic governance. Our global economy is changing rapidly. We are facing a multitude of risks: climate change, political conflicts, terrorism to name just a few. The G20 can serve as an agenda setter. “
“Business at OECD provides continuity and expertise across G20 and B20 presidencies. We support the OECD in its vital mission to improve domestic and global economic governance. At a time when trade and investment across borders are subject of much ill-informed debate, OECD evidence on the substantial benefits of open and competitive markets is more important than ever”, said Business at OECD (BIAC) Chairman Phil O’Reilly.
B20 Germany has chosen the motto: Resilience, Responsibility and Responsiveness – Towards a Future-oriented, Sustainable World Economy. Resilience in an economic sense must be a holistic concept, including new frameworks for disruptive technologies brought about by digitalization and those suited for increased uncertainty around the world to ensure crisis-responsiveness. Responsible leaders should address challenges such as climate change and digitalization pro-actively. In the light of the recent rise of anti-globalization movements, the motto of “responsiveness” seems timelier than ever.
February 15, 2017
Are you a financial services company? We would love to hear your views on the costs of regulatory fragmentation. So please complete our short survey in the Members Only section of our website, or contact Toby Bateman.
Your response will help strengthen the case for greater international regulatory cooperation. Responses will be anonymized and treated as confidential – only consolidated industry feedback will be shared.
January 17, 2017
Paris, 17 January 2017 – Addressing the OECD Health Committee at Ministerial Level, Business at OECD (BIAC) today emphasized the private sector role as partner both in bringing innovative solutions in health and well-being and in intensifying public-private collaboration with OECD and governments.
Ministers from over 35 OECD and partner countries discussed the Next Generation of Health Reforms. This reflects the challenge that many countries face from the demographic transition to an ageing society and the associated increase in the burden of chronic diseases and related co-morbidities. The meeting addressed a number of topics, including ineffective health spending and avoiding waste, the opportunities offered by new health technologies, the role of health professionals and realizing the promise offered by Big Data in health.
December 7, 2016
Paris, 7 December 2016 – Commenting on the public release of the OECD 2015 PISA Survey Results, Charles Fadel, Chair of the Business at OECD (BIAC) Education Committee said “Employers around the world value the importance of data, and PISA, as a unique instrument in its reach and quality, is the respected influential benchmark which […]
December 2, 2016
Paris, 2nd December 2016 – Commenting from the meeting David Croft, BIAC Development Chair, said “For the Sustainable Development Goals to be effectively implemented the widespread support and cooperation of the private sector is crucial. Deepening successful and inclusive partnerships with business was rightly a key theme at this second High Level Meeting of the GPEDC and this approach is very welcome. Going forward we must recognize that fostering economic growth is fundamental to sustainable development and business is committed to working with other development actors to achieve this goal.”
About the 2nd High Level Meeting of the Global Partnership for Effective Development Cooperation
The Second High-Level Meeting (HLM2) aims to amplify the positive impact of development cooperation over the next 15 years. Hosted by the Government of Kenya, the meeting took place in Nairobi on 28 November – 1 December 2016. HLM2:
- took stock of the implementation of development effectiveness principles and commitments
- provided a learning space on development effectiveness, showcasing successful examples
- identified innovative approaches to sustainable development that can be scaled up
- positioned the Global Partnership to effectively contribute to implementation of the SDGs and the Addis Ababa Action Agenda.
November 25, 2016
Paris, 25 November 2016 – Commenting on the public release of the OECD’s new Multilateral Convention (“the MLI”), Will Morris, BIAC Tax Committee Chair said “The OECD is to be congratulated on securing the commitment of over 100 OECD and non-OECD countries and jurisdictions in developing the MLI. This was a significant and complex undertaking requiring considerable work. We hope that widespread adoption of the MLI will result in a number of the key BEPS recommendations being implemented in a consistent and coordinated way across many countries, so that tax treaties can continue to perform their fundamental role of preventing double taxation and facilitating the cross-border trade and investment that creates inclusive growth, jobs and wealth for all.”
A signing ceremony for the MLI will be held in June 2017 in Paris.
BIAC will engage with the OECD going forward on issues related to the MLI as part of its continued focus on tax certainty and tax policy that fosters cross-border trade and investment.