Base erosion and profit shifting (OECD project)

The Base erosion and profit shifting project is a project headed by the OECD's Centre for Tax Policy and Administration[1] to deal with the tax avoidance strategy used by multinational companies, wherein profits are shifted from jurisdictions that have high taxes (such as the United States and many Western European countries) to jurisdictions that have low (or no) taxes (so-called tax havens).

It produced detailed reports in September 2014 in response to seven actions agreed previously.[2] The BEPS project is said to be an "attempt by the world’s major economies to try to rewrite the rules on corporate taxation to address the widespread perception that the [corporations] don’t pay their fair share of taxes".[3]

Action 15 of the BEPS Action Plan is about "Developing a Multilateral Instrument to Modify Bilateral Tax Treaties". A public consultation meeting on the multilateral instrument will be held in Paris at the OECD Conference Centre on 7 July 2016. [4]

References

  1. ↑ "Base Erosion and Profit Shifting". oecd.org.
  2. ↑ "BEPS 2014 Deliverables". oecd.org.
  3. ↑ Mansori, Kash (October 24, 2014). "What Is This 'BEPS' Thing, and Should I Care?". MINA Economics.
  4. ↑ OECD (31 May 2016). "OECD releases discussion draft on the multilateral instrument to implement the tax-treaty related BEPS measures".
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