Base Erosion and Profit-Shifting (BEPS): OECD and Ways & Means start taking action

US Outbound Newsalert

Base erosion and profit-shifting (BEPS) continues to be a high priority for the Administration, Congress, and leading international economic organizations. We have recently seen significant action seeking to address BEPS concerns. On June 13, the House Ways and Means Committee held a hearing in which Committee Chairman Dave Camp (R-MI) discussed the anti-base erosion options included in his international tax reform discussion draft released on October 26, 2011. On July 19, the Organisation for Economic Cooperation and Development (OECD) issued a Comprehensive Action Plan (Plan) to address BEPS issues. The Plan follows from the OECD’s February 2013 BEPS report and outlines 15 separate workstreams under five broad categories.

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