BEPS | Tax Transparency
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 greater tax transparency is being echoed around the globe.
Corporate social responsibility, tax governance, enhanced transparency with tax authorities and “fair share” tax accountability are all topics increasingly debated. Stakeholders involved in this tax transparency debate 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).
OECD BEPS Report and Action Plan
In February 2013, the OECD issued its report on Addressing Base Erosion and Profit Shifting (BEPS). The BEPS report 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.
Since issuing its report, the OECD’s focus on BEPS has been embraced and endorsed by the G20, the G8 and the European Commission. On July 19, 2013, the OECD released a coordinated action plan for the BEPS project for the G20 governments.
Visit BEPS/Tax Transparency in TaxNewsFlash for an archive of alerts. The most recent alerts concerning include:
- EU – Progress Report on Anti-evasion, Anti-avoidance Actions
- Germany – Tax Evasion-related Proposals
- EU – Parent-Subsidiary Directive Changes to Address Corporate Tax Avoidance
- OECD – Progress Report on Tax Transparency
- France – Legislation to Counter Certain Tax Planning, Optimization Schemes
- France – Enhanced Transfer Pricing Documentation, Penalty Provisions
- Legislative Update – Discussion Draft of International Business Tax Reform (Senate Finance Committee Staff)
- Legislative Update – Initial Impressions of International Business Tax Reform, Comparing Option Y and Option Z
- Australia – Transfer Pricing Now Referred to as "Profit Shifting"
- Mexico – Tax Reform Affecting Related-Party Transactions, Maquiladoras
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.
Insights from KPMG
- New! Analysis of Senate Finance Discussion Draft of International Tax Reform Proposals
- 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—Insights report from July 2 and July 26 Webcasts on the OECD BEPS Action Plan
- July 19 News Release—KPMG: OECD Action Plan Is Significant Development in Global Collaboration to Modernize International Tax System
- White Paper—Tax Transparency – A U.S. Perspective
Videos & Webcasts
How Does the BEPS Initiative Relate to U.S. Tax Reform? Hank Gutman explains in four-minute video.
- New! December 16—The Baucus Tax Reform Discussion Drafts (Tax Governance Institute video webcast)
- November 26—Baucus Introduces International Tax Reform Discussion Draft
- September 11—OECD Developments – Transfer Pricing Aspects of Intangibles and Documentation
- August 29—Transfer Pricing – What Tax Authorities Know Before Your Documentation Submission, including discussion of OECD's Action Plan risk assessments and BEPS issues
- August 22—Tax Transparency and the OECD Action Plan on BEPS: The U.S. Government Perspective with special guests – Treasury's Bob Stack and special advisor to House Ways and Means Committee Ray Beeman
- July 26—The OECD BEPS Action Plan: Potential Implications for U.S. Multinationals
- July 2—Tax Transparency and the OECD Initiative on BEPS: Recent Developments and What Does It Mean for You?
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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