Tuesday , July 23, 2024 |   15:56:07 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Newsletters
 
NEWS FLASH
 
Applications moved from AAR to BAR: Applicants can now withdraw applications Black Money Act - Penalty threshold hiked from Rs 5 lakh to Rs 20 lakh Rs 1000 penalty per day if NRI having LO in India fails to file statements No Equalisation Levy for e-Commerce Operators from next month I-T- Order passed by CIT(A) in upholding transfer pricing adjustment, is invalidated, where CIT(A) omits to examine each ground on merits: ITAT (See 'Breaking News') DTAA - Situs of AO is only key factor for determining jurisdiction of ITAT regardless of any administrative order passed u/s 127 of the Act w.r.t transfer of cases: ITAT (See 'Breaking News') OECD initiates pilot to monitor compliance with G7 code of conduction for AI (See Brief) DTAA - Capital loss, after being carried forward, can be set off only against income under the head capital gains; existence of a taxable income is precondition for a set of losses against such income: ITAT (See 'Breaking News') TP - Comparable company merits being excluded from list of comparables, where it is functionally dis-similar in comparison to assessee: ITAT (See 'Breaking News') DTAA -In absence of a clause in DTAA not dealing with a particular item of income, a payment should not be regarded as residuary income but as business income which is not chargeable to tax in India, in the absence of a PE of the non-resident in India: ITAT (See 'Breaking News') Switzerland hosts Indian trade delegation; eye on enhancing ties following TEPA (See Brief) TP - Comparable company merits being excluded on account of diversified operations, lack of segmental information, and differences in turnover and services compared to the assessee: ITAT (See 'Breaking News') I-T - DRP's order upholding draft order without giving assessee an opportunity of presenting evidence, is unsustainable: ITAT (See 'Breaking News') DTAA -Revenue earned by assessee-company from supply of software & maintenance thereof, cannot be deemed to be Royalty as per I-T Act & India-UK DTAA: ITAT (See 'Breaking News') I-T- Assessee entitled to deduction on amount paid to non-resident for expenses incurred, considering that recipient declares amount so received, in its own ITR: ITAT (See 'Breaking News') TP - Department's premise of Royalty being paid by the assessee-company to its own self, where such a payment be made to a holding company, is wholly untenable: HC (See 'Breaking News') I-T- As per trite law, an assessee cannot be expected to deduct tax at source from payments that became taxable owing to retrospective amendment: HC (See 'Breaking News') DTAA - consideration received for provision of Managerial Services, cannot be deemed to be Royalty or taxed as such, where no transfer of knowledge or expertise is involved: ITAT (See 'Breaking News') TP - Where TPO's report is limited to determination of ALP only, then the AO cannot travel beyond determination of ALP: ITAT (See 'Breaking News') I-T- Once profit from business increases, it will correspondingly increase amount of deduction claimed u/s 10A; even if business profit is increased there will be no change in assessee's taxable income: ITAT (See 'Breaking News')
 
TII SEARCH
 
 
   
Home >> News Brief
 

OECD initiates pilot to monitor compliance with G7 code of conduction for AI
By TII News Service
Jul 22, 2024 , Paris

    
Untitled Document

 

THE Organisation for Economic Co-operation and Development (OECD) announced a pilot phase to monitor the application of the Hiroshima Process International Code of Conduct for Organisations Developing Advanced AI Systems. This initiative will test a reporting framework intended to gather information about how organisations developing advanced Artificial Intelligence (AI) systems align with the Actions of the Code of Conduct and is a significant milestone under the G7's ongoing commitment to promoting safe, secure and trustworthy development, deployment and use of advanced AI systems.
 
The G7 Hiroshima AI Process, launched in May 2023, delivered a Comprehensive Policy Framework that included several elements: the OECD’s report Towards a G7 Common Understanding of Generative AI, International Guiding Principles for All AI Actors and for Organisations Developing Advanced AI Systems, the International Code of Conduct for Organisations Developing Advanced AI Systems, and project-based co-operation on AI. Under Italy’s current G7 Presidency, G7 members have focused on advancing these outcomes. 

The pilot phase of the reporting framework, available until 6 September 2024, marks a critical first step towards establishing a robust monitoring mechanism for the Code of Conduct as called for by G7 Leaders. The draft reporting framework was designed with input from leading AI developers across G7 countries and supported by the G7 under the Italian Presidency. It includes a set of questions based on the Code of Conduct’s 11 Actions. A finalised reporting framework will facilitate transparency and comparability around measures to mitigate risks of advanced AI systems and contribute to identifying and disseminating good practices.

Organisations developing advanced AI systems are welcome to participate in the pilot. Responses provided during this period will be used to refine and improve the reporting framework, with the aim of launching a final version later this year. A common framework could improve the comparability of information available to the public and simplify reporting for organisations operating in multiple jurisdictions.

The OECD has been at the forefront of AI policy making since 2016. The OECD Recommendation on AI, adopted in 2019 as the first intergovernmental standard on AI and updated in 2024, serves as a global reference for AI policy. The OECD has a track record for global intergovernmental collaboration on an equal footing to tackle challenging public policy issues that transcend national borders.

 
 
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI TII
  • DTAA
  • Circulars (I-T Act, 1922)
  • Limited Treaties
  • Other Treaties
  • TIEAs
  • Notifications
  • Circulars
  • Relevant Sections of I-T Rules,1962
  • Instructions
  • Administrative Orders
  • DRP Panel
  • I-T Act, 1961
  • MLI
  • Relevant Portion of I-T Act,1922
  • GAAR
  • MAP
  • OECD Conventions
  • Draft Guidelines
  • DTC Bill
  • Committee Reports
  • FATCA
  • Intl-Taxation
  • Finance Acts
  • Manual on EoI
  • UN Model Taxation
  • Miscellaneous
  • Cost Inflation Index
  • Union Budget
  • Information Security Guidelines
  • APA Annual Report
  • APA Rules
  • Miscellaneous
  • Relevant Sections of Act
  • Instructions
  • Circulars
  • Notifications
  • Draft Notifications
  • Forms
  • TP Rules
  • APA FAQ
  • UN Manual on TP
  • Safe Harbour Rules
  • US Transfer Pricing
  • FEMA Act
  • Exchange Manual
  • Fema Notifications
  • Master Circulars
  • Press Notes
  • Rules
  • FDI Circulars
  • RBI Circulars
  • Reports
  • FDI Approved
  • RBI Other Notifications
  • FIPB Review
  • FEO Act
  • INTELLECTUAL PROPERTY
  • CBR Act
  • NBFC Report
  • Black Money Act
  • PMLA Instruction
  • PMLA Bill
  • FM Budget Speeches
  • Multimodal Transportation
  • Vienna Convention
  • EXIM Bank LoC
  • Manufacturing Policy
  • FTDR Act, 1992
  • White Paper on Black Money
  • Posting Policy
  • PMLA Cases
  • Transfer of Property
  • MCA Circular
  • Limitation Act
  • Type of Visa
  • SSAs
  • EPFO
  • Acts
  • FAQs
  • Rules
  • Guidelines
  • Tourist Visa
  • Notifications
  • Arbitration
  • Model Text
  • Agreements
  • Relevant Portion of I-T Act
  • I-T Rules, 1962
  • Circulars
  • MISC
  • Notification
  • About Us
  • Contact Us
  •  
     
    A Taxindiaonline Website. Copyright © 2010-2023 | Privacy Policy | Taxindiainternational.com Pvt. Ltd. OPC All rights reserved.