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On this webcast our tax specialists discuss issues related to intangibles, including feedback and commentary from the 13/14 November OECD Consultation.
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With the debate over base erosion and profit shifting (BEPS) having reached the highest levels of governments, and with growing attention from the media and the public on perceived international tax avoidance techniques of high-profile multinationals, the Organisation for Economic Cooperation and Development (OECD) has taken up the matter of BEPS.
The OECD’s Action Plan on BEPS was published in July 2013 with a view to addressing perceived flaws in international tax rules. The 40 page Action Plan, which was negotiated and drafted with the active participation of its member states, contains 15 separate action points or work streams, some of which are further split into specific actions or outputs. The Plan is squarely focused on addressing these issues in a coordinated, comprehensive manner, and was endorsed by G20 leaders and finance ministers at their summit in St. Petersburg in September 2013.
Explore the latest developments and PwC’s global tax specialists’ perspectives on each action point below:
Completion of these 15 actions will take one to two years. While it may take considerably longer for the impact of these changes to be fully applied in practice, there are indications that the BEPS project and related developments are already leading to a material shift in the behaviour of tax authorities.
Governments, revenue authorities and business will all have a material role to play over coming months if the proposed changes are to be effective.