Global Tax Reform: OECD Efforts on BEPS and Transparency

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By Brett Weaver and Sean Foley, KPMG LLP (U.S.) and Andrew Hickman, KPMG LLP (U.K.) | Tax Notes | Oct. 21, 2013


From TaxWatch



The Organisation of Economic Co-operation and Development's (OECD's) recent efforts to address member state concerns and a G-20 mandate about tax base erosion, centers around three themes:

  • Expectations and demands for greater transparency in tax matters are increasing.
  • A growing consensus exists that tax systems had not kept up with changes in business models and practices, while countries are increasingly replying on their tax systems to compete for investment dollars and jobs and to provide incentives to benefit the foreign activity of their own multinationals.
  • There is more focus on identifying and curtailing aggressive tax planning and practices.

 

With these themes as context, this article discusses the 15 proposed actions in OECD's base erosion and profit shifting action plan, released on July 19, 2013. The discussion covers the digital economy; anti-base-erosion provisions; transparency and dispute resolution; strengthening transfer pricing; and practical considerations for implementation.

This article was published in the October 21, 2013, issue of Tax Notes and appears here with the permission of Tax Analysts.

 

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