OECD publishes sweeping Action Plan on Base Erosion and Profit Shifting (BEPS)

July 2013

Overview

Today the Organisation for Economic Cooperation and Development (OECD) published an action plan that addresses the perceived flaws in the international tax rules that were discussed in the OECD’s February 2013 Base Erosion and Profit Shifting (BEPS) report.  Today’s 40 page Action Plan contains 15 separate action points or work streams, some of which are further split into specific actions or outputs.
According to the Plan, most of the actions will take one to two (or more) years to complete. However, it may take considerably longer to fully apply these changes in practice. There are indications that the BEPS project and related developments are already leading to a material shift in the behavior of tax authorities.

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