Reply: BEPS: In a nutshell

The OECD have published its latest proposals in relation to its Base Erosion and Profit Shifting (BEPS) 15 point Action Plan. We have prepared a summary of the key points for each Action item to provide you with an overview of the recommendations and some insights from our BEPS specialists.

Key highlights:

- The BEPS project represents one of the most significant changes to the corporate tax landscape since 1928
- For the majority of Actions, these documents mark the start of the implementation and practical delivery phase
- Going forward, corporates will need to fundamentally rethink how they view taxes
- Governments will have to think about how to attract businesses through corporate tax systems while maintaining a more level playing field globally
- The OECD estimates that revenue losses from BEPS are up to USD 240 billion annually and hope that these proposals will go some way to addressing this tax gap.

BEPS: In a nutshell