BEPS | Tax Transparency
The Tax Transparency Discussion
As businesses reach out across the globe seeking new markets, their tax policies as well as the amount of tax they pay are increasingly coming under close governmental and public scrutiny. With few signs of abating, the call for tax transparency is being echoed around the globe. Stakeholders involved in the tax transparency discussion are wide ranging and include taxpayers, tax authorities, the European Commission, G8 and G20 countries, and the Organisation for Economic Co-operation and Development (OECD).
The OECD's coordinated Action Plan for the Base Erosion and Profit Shifting (BEPS) project responds to growing concerns among OECD and non-OECD countries alike about the risks to tax revenues, tax sovereignty and tax fairness that BEPS behaviors pose, in particular when these results lead to unanticipated double nontaxation. More on the OECD's initiatives:
Visit BEPS/Tax Transparency in TaxNewsFlash for an archive of alerts. The most recent 10 alerts include:
- New Zealand – Focus on BEPS Risks
- U.S. Budget – Overview of the Administration's Tax Proposals for FY2015
- Subpart F Proposals in Ways and Means Chairman's Tax Reform "Discussion Draft," KPMG Report
- Subpart F "Miscellaneous" Proposals in Ways and Means Chairman's Tax Reform "Discussion Draft," KPMG Report
- Foreign Tax Credit Proposals in Ways and Means Chairman's Tax Reform "Discussion Draft," KPMG Report
- Base Erosion Proposals in Ways and Means Chairman's Tax Reform "Discussion Draft," KPMG Report
- EU – Global Standard Against Tax Evasion, Improved Tax Transparency
- Canada – Proposal to Prevent "Treaty Shopping"
- OECD – Revised Time Line for BEPS Discussion Drafts, Public Consultations
- OECD – BEPS-Related Transfer Documentation, Country-by-Country Reporting Draft Guidance, KPMG Overview
KPMG BEPS Insight Network
The question is not whether the OECD's BEPS project will affect multinational enterprises, but when and to what extent. To help your company be ready, consider the KPMG BEPS Insight Network, a paid subscription service that provides several layers of crucial and timely information, analysis, and insights on BEPS-related developments.
The KPMG BEPS Insight Network provides subscribers with analyses prepared by professionals from KPMG International's network of member firms. Accessible via a Web-based portal, subscribers can access:
- Searchable summaries of breaking BEPS and tax transparency developments around the world
- A newsletter, BEPS/Tax Transparency Insights, and feature articles covering in-depth analyses and outlooks
- An on-line discussion forum where subscribers can ask questions and exchange ideas with their peers
- Webcasts and subscriber-access-only conference calls with KPMG International member firm presenters to address questions
- A dedicated e-mail box enabling subscribers to send questions to KPMG member firm professionals regarding BEPS developments
For more information, pricing, and to subscribe, e-mail us at email@example.com.
Responding to the Debate
Relying on KPMG’s tax transparency knowledge, insights and experience, tax directors from leading companies around the world are evaluating the impact of fundamental changes in attitudes and approaches to taxation.
A collective understanding of the importance of active public dialogue is increasing, and KPMG’s professionals are actively engaged in this dialogue and in developing effective responses to the tax transparency debate.
- Executive Summary—Report from December 16 Webcast on Baucus Discussion Drafts on International Reform and Cost Recovery
- Tax Executives Polled on BEPS—Knowledge Gap Grows as International Tax Policy Concern Spreads
- Manal Corwin Discusses Countering BEPS with Finance Monthly
- Global Tax Reform: OECD Efforts on BEPS and Transparency, Tax Notes
- White Paper—A New Era in International Tax: Tax Morality, Transparency, and BEPS
- Executive Summary—Report from July 2 and July 26 Webcasts on the OECD BEPS Action Plan
- White Paper—Tax Transparency – A U.S. Perspective
Events, Videos & Webcasts
April 8, 2014 – Base Erosion and Profit Shifting—As Examined through the OECD's Looking Glass, 14th Annual NYU/KPMG Tax Lecture Series, New York City
How Does the BEPS Initiative Relate to U.S. Tax Reform? Hank Gutman explains in four-minute video.
- February 7—Transfer Pricing Documentation and Country-by-Country Reporting Discussion Draft, OECD's Discussion Draft on "Action 13" of the BEPS Action Plan
- November 26—Baucus Introduces International Tax Reform Discussion Draft
- September 11—OECD Developments – Transfer Pricing Aspects of Intangibles and Documentation
KPMG LLP has put in place an experienced team of tax professionals to provide clients with Tax Transparency Services. Working with professionals from the KPMG International network of member firms, our professionals draw on their deep international tax knowledge, extensive industry backgrounds, and experience in tax policy considerations to help companies address their tax transparency needs.
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