Tax Bulletin

November 2014 - Tax Policy Bulletin

PwC internal survey shows countries' different approaches to BEPS

An informal Base Erosion and Profit Shifting (BEPS) survey was conducted internally among a number of our PwC firms.The survey has sounded a note of caution and uncertainty about how things will be implemented. We also found some concern about unilateral action, with countries not waiting for a consensus approach. Many businesses want to wait and see what happens, but some are starting to realise things are changing and are beginning to deal with this in a number of areas, particularly in relation to:

  • greater transparency (to tax authorities or the public)
  • tax authorities taking a tougher stance in their audits in advance of any new rules and
  • change in transfer pricing 'norms'.