OECD releases BEPS Action Plan — a sweeping international tax effort to combat base erosion and profit shifting
The OECD’s Committee on Fiscal Affairs (CFA) has published its Action Plan to address Base Erosion and Profit Shifting (BEPS). This sweeping international effort aims to combat a comprehensive range of international tax reduction techniques on a scale that is without precedent.
The Action Plan follows from the directive given the CFA by the G20 group of countries to better address global corporate taxation and builds upon the general concepts set forth in the OCED report on BEPS issued in January 2013. The Action Plan asserts: ‘The BEPS project marks a turning point in the history of international co-operation on taxation.’
The Action Plan will require co-ordinating individual OECD member (and non-member) countries to act individually (for example, changes to legislation, regulations, administrative practices), bilaterally (for example, through changes to bilateral treaties) or multilaterally (for example, multilateral treaties or changes to OECD Guidelines). Moreover, the scale of the Action Plan is vast. It has the support of the finance ministers of the G-20 — the world’s largest economies — and it includes the involvement of many emerging economies…
If you are registered and logged in to the site, click on the link below to read the rest of the DLA Piper briefing. If not, please register or sign in with your details below.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
Pensions News — September 2014: budget reforms; legislation; public service pension schemes; and more
This edition of Pensions News summarises the key developments from September 2014.
John Swinney, the Scottish government’s finance secretary, has announced the proposed rates and bands for the new Scottish property transaction tax.
Analysis from The Lawyer
Regulators are ramping up the pressure in the aftermath of recession, leaving firms to compete for compliance and restructuring work
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.