The economic crisis means global corporate losses have increased significantly. Though most of these claims are justified, some corporations use ‘aggressive tax planning’ to avoid taxes. Governments are working together to detect and deter these undue tax advantages.

On 19 October 2012, the OECD Committee on Fiscal Affairs released for public comment revised proposals concerning the meaning of “beneficial owner” in Articles 10, 11 and 12 of the OECD Model Tax Convention. The OECD has now published the comments received on this revised discussion draft.

The Phase 3 Report on Japan by the OECD Working Group on Bribery evaluates and makes recommendations on Japan'simplementation and application of the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions and related instruments.

Spain’s enforcement of its foreign bribery laws has been extremely low, with not a single prosecution out of only seven investigations in 13 years since joining the OECD Anti-Bribery Convention. Spain must vigorously pursue foreign bribery allegations and strengthen its legal framework for fighting bribery by addressing gaps in its Penal Code, says a new OECD report.

Russia has yet to address key provisions of the OECD Anti-Bribery Convention, which entered into force in Russia in April 2012. It has not yet fully implemented recommendations for strengthening its framework for combating foreign bribery and should be more proactive in detecting, investigating and prosecuting foreign bribery cases.

South Africa must take urgent steps to proactively investigate and prosecute foreign bribery. No foreign bribery cases have been prosecuted since South Africa joined the Convention in 2007. The 4 on-going investigations – out of only 10 allegations that have surfaced to date – are also far from reaching the prosecution stage, according to a new report by the OECD Working Group on Bribery.

Turkey is a significant and geopolitically critical economy. Its companies, like those from many other countries, operate in corruption-prone sectors and countries. In spite of this, only 10 allegations have come to the attention of Turkish authorities since foreign bribery became an offence in Turkey in 2003.

Israel is not sufficiently proactive in detecting and investigating foreign bribery, with no prosecutions over the past 7 years, despite 14 allegations of foreign bribery involving Israeli individuals or companies. The OECD Working Group on Bribery is, however, encouraged by the recently-opened investigations, and will pay close attention to how these evolve.

Australia’s enforcement of its foreign bribery laws has been extremely low, with just a single case leading to prosecutions out of 28 referrals in 13 years. Cases may have been closed prematurely. Australia must vigorously pursue foreign bribery allegations.

The Phase 3 Report on Japan by the OECD Working Group on Bribery evaluates and makes recommendations on Japan'simplementation and application of the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions and related instruments.

Japan must step up enforcement of its foreign bribery laws and strengthen the capacities of its law enforcement agencies to proactively detect, investigate and prosecute the foreign bribery offence, according to a new report by the OECD Working Group on Bribery.

The OECD Working Group on Bribery reaffirms the importance of the independence of prosecutors and judges and is concerned that Brazil’s achievements in fighting corruption may be seriously jeopardised by recent legislative developments.

Companies suffer steep share-price falls while Luckin implosion highlights risks

Alternative providers fear it will harm competition in market for loans to small business

INTERVIEW BY KIERAN JACKSON: Tennis coach Patrick Mouratoglou speaks passionately about what needs to change in tennis, and about the futures of Kyrgios, Serena Williams and Coco Gauff.

The legendary hip-hop star, 42, opened up his wallet and donated money to two non-profit organizations that help feed people in need, according to Access Online.

Dortmund sporting director Michel Zorc insists the club are 'totally relaxed' about the future of coveted youngster Jadon Sancho and that they have bigger concerns at this present time.

Orange Is The New Black star Taryn Manning has sparked concern with a  worrying post about feeling 'isolated and terrorised'. 

KIT HOLDEN: With the Olympics and the Euros suspended and no end in sight to the freeze on other football leagues, there will be millions hoping to get some kind of fix from Germany.

Gayle King was struck down with a sore throat on Wednesday, but she proved the show must go on while announcing the Grammy Awards nominations live on CBS. 

KIT HOLDEN: With the Olympics and the Euros suspended and no end in sight to the freeze on other football leagues, there will be millions hoping to get some kind of fix from Germany.

Both Bernie Sanders and Joe Biden are canceling their planned campaign events tonight in Cleveland due to coronavirus concerns. And CNN canceled audience for Sunday debate.

Liverpool's Champions League quarter-final at home to Atletico Madrid will be the focus of an inquiry by the city council over concerns it spread coronavirus in the area.

Mako Vunipola was 'gutted' at missing out on a 60th Test cap due to England's decision to stand him down over the coronavirus scare. He played for Saracens on Saturday instead.

France's Six Nations clash against Ireland joins England v Italy in being pushed back, although RFU chief Bill Sweeney says he sees no reason why Wales v Scotland can't go ahead.

Leicester striker Jamie Vardy has refused to rule out making a return to the England squad for Euro 2020 with doubts over the fitness of Harry Kane and Marcus Rashford.

The BBC is making a show about 'trailblazing surgeons' for Netflix - due to be aired next year. Episodes to be four hours long and hope to 'increase knowledge on anatomy', says BBC Studios.

'Some days, when I wake up and I'm annoyed and I'm like, "I'm gonna be alone forever,"' Selena said on an episode of Verified, where she explained the meaning behind her hit song Rare.

Fans have voiced their concern for Elizabeth Sobinoff, calling the Married At First Sight star 'too skinny' after her recent weight loss.

Fans have voiced their concern for Married At First Sight's Elizabeth Sobinoff, 28, just days ahead of her return to the show as an insider. 

Fleur East has revealed she was concerned about potentially having contracted coronavirus from Prince Charles, after it was revealed he tested positive for COVID-19 two weeks after she met him.

Alter Principal Lourdes Lambert said the decision not to renew the teacher's contract was made by the Archdiocese of Cincinnati after someone expressed 'concern' to Archbishop Dennis Schnurr.

The National Food Crime Unit has launched a probe into the supermarket giant's own-brand version of the sugary snack. The unit was launched in 2014 following the horsemeat scandal.

More than 350 undocumented immigrants detained by ICE have gone on a hunger strike at a privately-operated jail in Georgia over fears of a possible coronavirus outbrea.

The UK government have been urged by its own members to take an active role in scrutinising the Saudi-led takeover of Newcastle United following calls for the deal to be blocked.

A year has passed since the beheading of 37 Saudi men and still the families wait to receive the bodies. At the time, they did not even know their loved ones had been executed.

Newcastle United's Saudi Arabian takeover, led by Amanda Staveley, will face renewed scrutiny this week from the Premier League after further complaints from human rights activists.

Liam Payne stepped out for a sushi dinner in Beverly Hills, Los Angeles on Thursday,  one day after his sister expressed concern about negativity directed towards him on Twitter.

Production on Coronation Street and Emmerdale will stop from March 23 due to coronavirus concerns, ITV has said. However the show will continue to air until at least the early summer say ITV.

Gerard was clad in official uniform for the relay, that bore the logo for the 2020 Olympics set to take place in Tokyo later this year, and was accompanied by security as he made his way through the crowds. 

Mako Vunipola was 'gutted' at missing out on a 60th Test cap due to England's decision to stand him down over the coronavirus scare. He played for Saracens on Saturday instead.

Watford chief executive voices concern about playing behind closed doors.

Boris Johnson is expected to give an update on the coronavirus lockdown on Sunday.

EXCLUSIVE BY DANIEL MATTHEWS: Whyte failed a drugs test ahead of his fight with Oscar Rivas in London in July. The Brixton heavyweight also changed his gloves at the last minute.

EXCLUSIVE BY MATT HUGHES: The ECB already conduct more drugs tests than any other domestic board, with more than 350 taking place last summer, and even more due to occur this summer.

Jurgen Klopp's side set the standard this campaign and yet defeat at Stamford Bridge saw them go another game without scoring and making it eight goals conceded in their last four.

Spain’s Diego Costa warned coach Fernando Hierro that Koke would miss his spot-kick against Russia according to Spanish television images.

Alek Sigley's wife Yuka Morinaga said she received her last message from him on Monday. The 26-year-old, who is based in Tokyo, usually speaks to Mr Sigley every day on WhatsApp.

Four aircraft are believed to have to have made the unusual move of flying missions over and around the Korean Peninsula between Tuesday and early Wednesday at the same time.

JetBlue has announced it will suspend fees for change to all its flight bookings. It applies to flights booked to any destination from February 27 and March 11, for travel completed by June 1.