Reply: OECD issues final BEPS reports

The Organisation for Economic Co-operation and Development (OECD) has issued final reports on all 15 focus areas in its two-year long project addressing base erosion and profit shifting (BEPS). These reports detail the recommendations developed by OECD and G20 countries for significant changes in key elements of international tax systems, including transfer pricing rules, the deductibility of interest expense, the permanent establishment concept, and limitations on tax treaty benefits. Also included are a new country-by-country reporting requirement and a new two-tier approach to transfer pricing documentation. At the same time, the OECD announced plans for the OECD and G20 countries to work on monitoring the implementation of the BEPS recommendations and to develop a framework for including additional countries in these efforts.

An Alert providing an overview of all the final BEPS reports and the OECD’s next steps is forthcoming. Detailed Alerts on each of the BEPS reports will follow.

Download this Tax Alert as a PDF file.