Overview of OECD Action Plan on Base Erosion and Profit Shifting (BEPS)
|
|
- Chloe Holt
- 6 years ago
- Views:
Transcription
1 Overview of OECD Action Plan on Base Erosion and Profit Shifting (BEPS) Monia Naoum, IBFD Research Associate Emily Muyaa, IBFD Research Associate 18 June
2 Introduction: Globalization and its impact on domestic economies Integration of national economies free movement of capital and labor shift of manufacturing bases from high-cost to low-cost locations gradual removal of trade barriers technological and telecommunication developments ever-increasing importance of managing risks and of developing, protecting and exploiting intellectual property 2
3 Introduction Cont d: Globalization and its impact on tax regimes substantial reduction of effective tax rates complex tax systems; compliance importance of the service (and digital) component of the economy 3
4 Introduction Cont d: Globalization and its impact on tax regimes How does this concern anyone? governments: less revenue and high costs to ensure compliance individual taxpayers: greater share of the tax burden businesses: reputational risk, reduced competitive advantage, hence fair competition is harmed 4
5 Background taxation as a way of asserting national sovereignty interaction of domestic tax rules; gaps (double non-taxation or less than single taxation) and frictions (double taxation) domestic scenario vs. international scenario international standards (bilateral tax treaties to eliminate double taxation) 5
6 Background (cont d) Weaknesses in the current rules; creating opportunities for BEPS) interaction of different domestic tax systems (opportunities, legally, to minimize effective tax) (artificial) dissociation of profits from activities that generate them digital economy (concept of residence/source taxation and characterization of income) 6
7 Background (cont d) As a result of these weaknesses consensus-based framework at risk what if nothing is done? loss of tax revenue emergence of competing sets of international standards or unilateral measures = double taxation 7
8 BEPS Action Plan G20/OECD; there s need to tackle concerns OECD BEPS Action Plan; 15 action points to address concerns by: establishing international coherence of corporate income tax systems ensuring transparency while promoting increased certainty and predictability restoring the full effects and benefits of international standards establishing a multilateral instrument to implement the responses to BEPS swiftly 8
9 Roadmap Guidance/Report Discussion draft Comments (and public consultation). Stakeholders include; supranational bodies (e.g., IMF, UN); business community etc.) Revised discussion draft Further public consultation? Final draft, etc. Timing - varying, up to December
10 Action 1 Action 1 Address the Tax Challenges of the Digital Economy Main challenges Significant presence: Lack of nexus under current international standards Attribution of Value Characterization of income: Application of source rules Collection of VAT/GST 10
11 Action 1 Action 1 Address the Tax Challenges of the Digital Economy Options proposed Modifications to the exemption list for PEs A new nexus based on significant digital presence Virtual PE Creation of a withholding tax on digital transactions Consumption tax options 11
12 Action 2 Action 2 Neutralise the effect of hybrid mismatch arrangements Main challenges Double deduction of payments Long-term deferral Double non-taxation Recommendations Treaty rules Amend Article 1 of the OECD MC (2010) Add 14 paragraphs to commentary of Art.1 of the OECD MC (2010) 12
13 Action 2 (cont d) Domestic Rules Category of hybrid arrangements Hybrid Financial Instruments & Transfers Hybrid Entity Payments Reverse Hybrids Imported mismatches Recommendations 1. Primary response: Payer jurisdiction denies deduction of payments 2. Secondary rule: Payee jurisdictions includes payments as income 1. Primary response: Payer / investor's jurisdiction denies deduction of payments 2. Secondary rule: In case of D/NI Payee jurisdictions includes payment as income; and in case of DD: Subsidiary jurisdiction denies deduction 1. Primary response: investor to include income / intermediate jurisdiction to follow tax treatment of controlling investor if no inclusion by that investor 2. Secondary rule: Payer jurisdiction denies deduction Introduce anti-hybrid rules 13
14 Action 3 Action 3 Strengthen CFC rules 14
15 Action 3 Definition of a CFC Rules to prevent or eliminate double taxation Rules for attributing income Threshold requirements Strenghen CFC rules Rules for computing income Definition Definition of of control control Definition of CFC income 15
16 Action 4 Action 4 Interest deductions and other Financial payments Recommendations what is interest and what are payments economically equivalent to interest who a rule should apply to whether a rule should apply to the level of debt or interest expense, and to a gross or net position whether a small entity exception or threshold should apply whether interest deductions should be limited with reference to the position of an entity's group / a fixed ratio 16
17 Action 4 (cont d) Action 4 Interest deductions and other Financial payments Recommendations whether a combined approach could be applied the role of targeted rules the treatment of non-deductible interest expense and double taxation considerations for groups in specific sectors interaction with other areas of the BEPS Action Plan 17
18 Action 5 Action 5 Counter harmful tax practices more effectively, taking into account transparency and substance Action 5 = refocus the work of the Forum on Harmful Tax Practices (FHTP) on: Requiring substantial activity for any preferential regime improving transparency through compulsory spontaneous exchange on rulings related to preferential regimes reviews of member and associate country regimes 18
19 Action 6 Action 6 Preventing the granting of treaty benefits in inappropriate circumstances 19
20 Action 6 Tax Policy clarification Amend preamble OECD MC 2010 Prevention of treaty abuse Abuse of treaty provisions Abuse of domestic rules LOB clause GAAR SAARS Amend Commentary OECD MC 2010 Renvoi to BEPS AP: 2,3,4,8,9,10 Saving Clause 20
21 Action 7 Action 7 Preventing the artificial avoidance of PE status 21
22 Action 7 Profit attributions to PEs Commissionnaire arrangements Splitting-up of contracts Artificial Avoidance of PE Status Specific activity exemptions Insurance 22
23 Action 8 Intangibles prior work by OECD: revised discussion draft on transfer pricing aspects of intangibles rules to prevent BEPS from transfers of intangibles among group members how? definition of intangibles align profits allocation with value creation transfer pricing rules (TP)/special measures for transfers of hard-to-value intangibles updating guidance on cost contribution arrangements 23
24 Action 8 Intangibles (cont d) Progress so far: final revisions to Chapters I, II and VI of the OECD Transfer Pricing (TP) Guidelines: clarify definition of intangibles under the Guidelines; marketing intangible guidance on identifying transactions involving intangibles; legal vs. economic ownership; others supplemental guidance for determining arm's length conditions for transactions involving intangibles exploitation of intangibles ex-post returns valuation techniques; part of methods/useful tool 24
25 Action 9 Risk and capital rules to prevent BEPS occurring as a result of: transfer of risks excessive capitalization how? adopting transfer pricing rules or special measures to limit returns for contractual assumption of risk or provision of capital aligning returns with value creation work co-ordinated with work on interest expense deductions and other financial payments 25
26 Action 10 Other high-risk transactions rules to prevent BEPS by engaging in transactions which would not, or would only very rarely, occur between unrelated parties how? transfer pricing rules or special measures recharacterization of transactions TP methods - profit splits management fees and head office expenses 26
27 Action 10 Other high-risk transactions (cont d) Progress modifications to Chapter VII of the OECD TP Guidelines; lowvalue adding intra-group services: supportive in nature not core business no use or creation of unique and valuable intangibles no assumption, or creation, of significant risk control management fees and head office expenses: limited profit mark-up on for common intra-group services consistent allocation key for all recipients specific reporting requirements 27
28 Action 10 Other high-risk transactions (cont d) cross-border commodity transactions currently, unilateral measures by countries additional guidance in Chapter II TP Guidelines: Comparable Uncontrolled Price (CUP) can be an appropriate method quoted or publicly available prices; under CUP/ as reference to determine price deemed pricing date potential additional guidance on comparability adjustments 28
29 Action 12 - Require taxpayers to disclose their aggressive tax planning arrangements mandatory disclosure rules for aggressive or abusive transactions, arrangements, or structures; modular design; maximum consistency allowing for country-specific needs and risks wide definition of tax benefit co-ordinated with the work on co-operative compliance enhanced models of information sharing for international tax schemes; between tax administrations 29
30 Action 13 - Re-examine transfer pricing documentation enhance transparency for tax administration compliance costs for business certainty and predictability information on MNE group s global; allocation of income economic activity taxes paid among countries (common template) 30
31 Action 13 - Re-examine transfer pricing documentation Progress revised standards for TP documentation three-tier approach to TP documentation master file; high level local file; specific jurisdiction Country-by-Country (CbC) report; template and implementation package model legislation three Model Competent Authority Agreements to facilitate the exchange of CbC reports among tax administrations 31
32 Action 13 - Re-examine transfer pricing documentation a new Chapter V of the TP Guidelines informed TP risk assessment proper TP analysis in reporting MNE income thorough tax audits Some unresolved issues: interest, royalties and service fees (OECD review and see if possible to include by 2020) 32
33 Action 14 - Make dispute resolution mechanisms more effective current Mutual Agreement Procedures (MAP) - obstacles absence of arbitration provisions in most treaties access to MAP and arbitration may be denied in certain cases Progress approach: political commitments to effectively eliminate taxation not in accordance with OECD MTC provide new measures to improve access to the MAP and improved procedures establish a monitoring mechanism to check the proper implementation of (these) political commitments 33
34 Action 15 - Develop a multilateral instrument implement measures developed amend bilateral tax treaties multilateral instrument: innovative approach reflects the rapidly evolving nature of the global economy and the need to adapt quickly to its evolution 34
35 Action 15 - Develop a multilateral instrument Highlights Public international law, tax law and political issues Desirable and feasible Targeted: multilateral MAP dual-residence structures hybrid mismatch arrangements triangular cases involving PEs in third states treaty abuse Inclusive - OECD, G20 and beyond All interested parties on an equal footing Scoping
36 Action 11 Action 11 Improving the Analysis of BEPS BEPS project Continuous Improvement Process Assess the existing data on BEPS analysis Identify new types of key indicators to be collected Develop a methodology for analysis of the scale and impact of BEPS 36
37 Conclusion ONE question How Would affect / apply? 37
38 Many thanks! & 38
OECD issues Action Plan on Base Erosion and Profit Shifting (BEPS)
22 July 2013 OECD issues Action Plan on Base Erosion and Profit Shifting (BEPS) Executive summary On 19 July 2013, the Organisation for Economic Cooperation and Development (OECD) issued its much-anticipated
More informationThe OECD s 3 Major Tax Initiatives
The OECD s 3 Major Tax Initiatives 1. The Global Forum on Transparency and Exchange of Information for Tax Purposes Peer review of ~ 100 countries International standard for transparency and exchange of
More informationOECD releases final BEPS package
6 October 2015 Tax Flash OECD releases final BEPS package On 5 October 2015, the OECD published the final reports of the OECD/G20 Base Erosion and Profit Shifting ( BEPS ) project, which consist of a package
More informationOECD s Base Erosion and Profit Shifting (BEPS) Action Plan
OECD s Base Erosion and Profit Shifting (BEPS) Action Plan Joanne Theodorides Senior Manager Tax Advisory Services, PWC Email: joanne.theodorides@cy.pwc.com OECD s BEPS Action Plan The G20 finance minsters
More informationBase erosion & profit shifting (BEPS) 25 May 2016
Base erosion & profit shifting (BEPS) 25 May 2016 Introduction Important to distinguish between: Tax avoidance Using legal provisions to minimise tax liability Covers interventions that are referred to
More informationBEPS Action Plan. September 2014
BEPS Action Plan September 2014 Contents 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Address the tax challenges of the digital economy Neutralise the effects of hybrid mismatch arrangements Strengthen CFC rules
More informationTHE FUTURE OF TAX PLANNING: TRANSPARENCY AND SUBSTANCE FOR ALL? Friday, 26 February AM PM Conrad Hotel, Hong Kong
THE FUTURE OF TAX PLANNING: TRANSPARENCY AND SUBSTANCE FOR ALL? Friday, 26 February 2016 9.00AM - 12.00PM Conrad Hotel, Hong Kong THE DRIVE TOWARDS TRANSPARENCY: CHALLENGES AND OPPORTUNITIES IN INTERNATIONAL
More informationCPA Esther Wahome. Thursday, 16 August 2018
Current trends in international tax planning (focus on BEPS). Presentation by: CPA Esther Wahome Senior Manager Taxation Services Deloitte & Touche Thursday, 16 August 2018 Uphold public interest Contents
More informationBEPS ACTION 15. Development of a Multilateral Instrument to Implement the Tax Treaty related BEPS Measures
BEPS ACTION 15 Development of a Multilateral Instrument to Implement the Tax Treaty related BEPS Measures REQUEST FOR INPUT ON THE DEVELOPMENT OF A MULTILATERAL INSTRUMENT TO IMPLEMENT THE TAX TREATY-RELATED
More informationHot topics Treasury seminar
Hot topics Treasury seminar Treasury in a transparent and new tax world Discover and unlock your potential Program Introduction on BEPS Potential implications for treasury o Interest deduction o Treaty
More informationPresentation by Shigeto HIKI
Presentation by Shigeto HIKI Co-chair of Forum on Harmful Tax Practices Director International Tax Policy Division, Tax Bureau Ministry of Finance, Japan The Fifth IMF-Japan High-Level Tax Conference For
More informationKorean Tax Update BEPS Implementation
Presentation for KGCCI Korean Tax Update BEPS Implementation May 2018 CONTENTS I. BEPS: Backgrounds What is BEPS? Backgrounds for OECD BEPS Project BEPS Action plans II. BEPS Implementation in Korea I.
More informationSpecial report on BEPS. Final OECD recommendations on the Base Erosion and Profit Shifting (BEPS) Action Plan and what they mean for you
Special report on BEPS Final OECD recommendations on the Base Erosion and Profit Shifting (BEPS) Action Plan and what they mean for you October / November 2015 b Special report Introduction On 5 October
More informationBEPS and ATAD: Where do we stand?
BEPS and ATAD: Where do we stand? by Nicky Gouder Tax Partner Summary Quick Overview of the BEPS Project and ATAD; A Comparison of the BEPS Recommendations and the ATAD obstacles, conflicts. Is harmonious
More informationEngaging title in Green Descriptive element in Blue 2 lines if needed
BEPS Impact on TMT Sector January 2016 Engaging title in Green Descriptive element in Blue 2 lines if needed Second line optional lorem ipsum B Subhead lorem ipsum, date quatueriure Let s be crystal clear:
More informationSimplifying BEPS Action Plan
Simplifying BEPS Action Plan BEPS and GST Conference 2 nd September 2016 1 About the pic: 16 Nov 2015, In Antalya, Leaders expressed support for the package of measures developed under the G-20/OECD Base
More informationFrequently Asked Questions
OECD/G20 Base Erosion and Profit Shifting Project 2015 Final Reports www.oecd.org/tax/beps.htm ctp.beps@oecd.org Follow us @OECDtax ninog / Fotolia Frequently Asked Questions Table of contents A. BEPS
More informationHeadline Verdana Bold International Tax matters ICPAU Tax Seminar, Hotel Africana November, 2017
Headline Verdana Bold International Tax matters ICPAU Tax Seminar, Hotel Africana November, 2017 Contents Related party transactions 3 URA practice on international tax 14 OCED Action Plan on BEPS 30 2017
More informationGlobal FS view on BEPS latest developments for asset managers. Event Date: Thursday 22 October Event Time: 9am EDT/3pm CET
Global FS view on BEPS latest developments for asset managers Event Date: Thursday 22 October Event Time: 9am EDT/3pm CET Notice The following information is not intended to be written advice concerning
More informationTopics in International Taxation: Partner country perspectives
Topics in International Taxation: Partner country perspectives Prof. Jan J. P. de Goede ITC/ATI Tax and Development Conference, Berlin, 15 June 2017 IBFD Academic and International Tax Training - www.ibfd.org
More informationCA T. P. OSTWAL. T. P. Ostwal & Associates LLP
CA T. P. OSTWAL BEPS strategies may not necessarily be illegal Increased globalisation enables companies to exploit gaps arising on interaction of domestic tax systems and treaty rules within the boundary
More informationPractical Implications of BEPS
www.pwc.com/il Practical Implications of BEPS Vered Kirshner, Tax Partner, PwC Israel Ben Blumenfeld, Tax and Transfer Pricing Senior Manager, PwC Israel Aim of BEPS Action plan backed by the OECD and
More informationBEPS Impact on Manufacturing
BEPS Impact on Manufacturing Base Erosion and Profit Shifting India has emerged as the seventh largest economy. Favorable demographics, a burgeoning domestic market and an annual growth rate in excess
More informationLIVE WEBCAST UPDATE ON BEPS PROJECT. 26 May :00pm 2:00pm (CEST)
LIVE WEBCAST UPDATE ON BEPS PROJECT 26 May 2014 1:00pm 2:00pm (CEST) Speakers Pascal Saint-Amans Director, Centre for Tax Policy and Administration Raffaele Russo Head of BEPS Project Marlies de Ruiter
More informationIBFD Course Programme International Tax Planning after BEPS and the MLI
IBFD Course Programme International Tax Planning after BEPS and the MLI Summary Recent developments such as the BEPS project and the Multilateral Instrument in international taxation, but also unilateral
More informationKPMG FLASH NEWS. BEPS - OECD Releases reports on 7 out of 15 action points. Background. 17 September KPMG in INDIA
KPMG FLASH NEWS KPMG in INDIA BEPS - OECD Releases reports on 7 out of 15 action points 17 September 2014 Background At the request of the G201 Finance Ministers, the Organisation for Economic Co-operation
More informationBEPS - Current Status of Implementation in EU Countries. Prof. Guglielmo Maisto 1 March 2019
BEPS - Current Status of Implementation in EU Countries Prof. Guglielmo Maisto 1 March 2019 1 Pillar I COHERENCE Action 2 Neutralizing Hybrid Mismatch Arrangements Action 3 CFC Rules Action 4 Interest
More informationPreventing the Granting of Treaty Benefits in Inappropriate Circumstances
OECD/G20 Base Erosion and Profit Shifting Project Preventing the Granting of Treaty Benefits in Inappropriate Circumstances ACTION 6: 2014 Deliverable OECD/G20 Base Erosion and Profit Shifting Project
More informationProtecting the Tax Base of Developing Countries: An Overview
Papers on Selected Topics in Protecting the Tax Base of Developing Countries Draft Paper No. 1 May 2013 Protecting the Tax Base of Developing Countries: An Overview Hugh J. Ault Professor Emeritus of Tax
More informationOECD meets with business on base erosion and profit shifting action plan
4 October 2013 OECD meets with business on base erosion and profit shifting action plan Executive summary On 1 October 2013, the Organisation for Economic Cooperation and Development (OECD) held a meeting
More informationTax Seminar: Transfer Pricing A Customs Perspective. Peter Caxton Kinuthia Director, Tax Services KPMG Kenya. 30 April 2015
Tax Seminar: Transfer Pricing A Customs Perspective Peter Caxton Kinuthia Director, Tax Services KPMG Kenya 30 April 2015 Presentation Outline Background TP and Customs Valuation Worldwide Developments
More informationBEPS Country-by-Country Reporting Rules and New Documentation Requirements
BEPS Country-by-Country Reporting Rules and New Documentation Requirements, EY LLP, Couzin Taylor LLP 67 th Annual Tax Conference 67e Conférence fiscale annuelle 2015 Agenda 1. The BEPS project: Action
More informationBASE EROSION PROFIT SHARING INITIATIVE THE IMPLICATIONS FOR THE BAHAMAS
BASE EROSION PROFIT SHARING INITIATIVE THE IMPLICATIONS FOR THE BAHAMAS By Ryan Pinder Partner, Graham Thompson International Business & Finance Summit (IBFS) March 2, 2018 Baha Mar Convention Centre Nassau,
More informationIBFD Course Programme BEPS Country Implementation
IBFD Course Programme BEPS Country Implementation Summary On 5 October 2015, the OECD published the final reports of its 15-point base erosion and profit shifting (BEPS) project. A bit more than a year
More informationIBFD Course Programme Current Issues in International Tax Planning
IBFD Course Programme Current Issues in International Tax Planning Amsterdam, 14 16 June 2017 Summary This intermediate-level course provides participants with an in-depth understanding of the current
More informationLIVE WEBCAST UPDATE ON BEPS PROJECT 2015 DELIVERABLES AND BEYOND. 8 June :00pm 6:00pm (CET)
LIVE WEBCAST UPDATE ON BEPS PROJECT 2015 DELIVERABLES AND BEYOND 8 June 2015 5:00pm 6:00pm (CET) INTRODUCTION Speakers Pascal Saint-Amans Director, Centre for Tax Policy and Administration Achim Pross
More informationWhen The Dust Has Settled (Part 1)
www.pwc.com/sg When The Dust Has Settled (Part 1) Elaine Ng, Tax Partner 15 August 2017 Let s shake up the dust ITA NOA GST IRAS DTA SDA EEIA 2 Let s shake up the dust CbCR PPT AEOI MAAL BEPS DPT MLI FHTP
More informationImpact of BEPS and Other International Tax Risks on the Jersey Funds Industry
www.pwc.com/jg November 2015 Impact of BEPS and Other International Tax Risks on the Jersey Funds Industry Current International Tax Environment 1 2 The current environment The ability to achieve tax certainty
More informationDo we have the wrong tax system for the digital economy? Alf Capito, Tax Policy Leader, EY Asia Pacific July 2014
Do we have the wrong tax system for the digital economy? Alf Capito, Tax Policy Leader, EY Asia Pacific July 2014 Key features of the digital economy as seen by the OECD taskforce Mobility Reliance on
More informationEUROPEAN COMMISSION PRESENTS ANTI-TAX AVOIDANCE PACKAGE
EUROPEAN COMMISSION PRESENTS ANTI-TAX AVOIDANCE PACKAGE tax.thomsonreuters.com On January 28, 2016, the European Commission presented its Communication on the Anti-Tax Avoidance Package (ATA Package).
More informationIBFD Course Programme Current Issues in International Tax Planning
IBFD Course Programme Current Issues in International Tax Planning Summary This intermediate-level course provides participants with an in-depth understanding of the current discussions relating to international
More informationExamining the impact of BEPS on the life sciences sector. Overview of select BEPS final reports and timing of implementation
Examining the impact of BEPS on the life sciences sector Overview of select BEPS final reports and timing of implementation Contents Overview of BEPS 1 Impact of BEPS final reports on the life sciences
More informationIFA Colombia V CONGRESO COLOMBIANO DE TRIBUTACIÓN INTERNACIONAL November 2016
IFA Colombia V CONGRESO COLOMBIANO DE TRIBUTACIÓN INTERNACIONAL 16-17 November 2016 Kees van Raad Professor of Law, University of Leiden Chairman International Tax Center Leiden Of counsel, Loyens & Loeff
More informationBEPS: What does it mean for funds and asset managers?
BEPS: What does it mean for funds and asset managers? Client Seminar Martin Shah René van Eldonk Malcolm Richardson, M&G 10 March 2015 Overview Background to and progress to date of BEPS Action Plan More
More informationRoundup of Australia s BEPS developments
TaxTalk Insights Global Tax Roundup of Australia s BEPS developments 12 April 2017 In brief Since its presidency of the G20 in 2014, Australia has been at the forefront of efforts to combat tax avoidance
More informationTRANSNATIONAL TAX NETWORK 2015 HONG KONG CONFERENCE. Hong Kong 9 February David Russell QC Outer Temple Chambers London and Dubai
TRANSNATIONAL TAX NETWORK 2015 HONG KONG CONFERENCE Hong Kong 9 February 2015 David Russell QC Outer Temple Chambers London and Dubai B.E.P.S. for BEGINNERS OR MISERY LOVES COMPANY A TALE OF TWO CITIES
More informationOECD releases final report under BEPS Action 6 on preventing treaty abuse
20 October 2015 Global Tax Alert EY OECD BEPS project Stay up-to-date on OECD s project on Base Erosion and Profit Shifting with EY s online site containing a comprehensive collection of resources, including
More informationTurkish Perspective on OECD Action Plan on Base Erosion and Profit Shifting
Turkey Ramazan Biçer and Mehmet Erginay* Turkish Perspective on OECD Action Plan on Base Erosion and Profit Shifting The OECD Action Plan on Base Erosion and Profit Shifting (BEPS) is a focal point of
More informationWelcome to the EFS-seminar. BEPS and transfer pricing, but what about VAT and Customs? Conference Chairman: René van der Paardt
Welcome to the EFS-seminar BEPS and transfer pricing, but what about VAT and Customs? Conference Chairman: René van der Paardt Rotterdam February 3, 2016 Agenda Seminar An update on the transfer pricing
More informationSIFM. Annual Conference September 19, Overview of Final BEPS Report / Update on Country by Country Reporting Requirements
SIFM Annual Conference September 19, 2016 Overview of Final BEPS Report / Update on Country by Country Reporting Requirements Presenters: John Forni, Managing Director Allen Brandsdofer, Transfer Pricing
More informationThe OECD report on base erosion and profit shifting (BEPS) and EU measures against aggressive tax planning and tax fraud
The OECD report on base erosion and profit shifting (BEPS) and EU measures against aggressive tax planning and tax fraud Pere M. Pons New York, May 6 th, 2013 Agenda I. Background II. Key pressure areas
More informationAnalysing BEPS Impact Infrastructure sector
Analysing BEPS Impact Infrastructure sector January 2016 Second line optional lorem ipsum B Subhead lorem ipsum, date quatueriure In October 2015, the Organization for Economic Co-operation and Development
More informationBEPS & transfer pricing
BEPS & transfer pricing May 2015 Suchint Majmudar, Taxand India Amit Rana, GE Polly Mak, Michelin Tim Wach, Taxand Global Contents 1. Introduction: background to BEPS 2. What is BEPS? 3. Key BEPS concerns
More informationGeneral Comments. Action 6 on Treaty Abuse reads as follows:
OECD Centre on Tax Policy and Administration Tax Treaties Transfer Pricing and Financial Transactions Division 2, rue André Pascal 75775 Paris France The Confederation of Swedish Enterprise: Comments on
More informationIBFD Course Programme Principles of Transfer Pricing
IBFD Course Programme Principles of Transfer Pricing Overview and Learning Objectives On 5 October 2015, the OECD published its reports addressing base erosion and profit shifting (BEPS). This new guidance
More informationEuropean Commission publishes Anti Tax Avoidance Package
28 January 2016 - Number 65 Brazil Desk e-mail bulletin European Commission publishes Anti Tax Avoidance Package On 28 January 2016 the European Commission published an Anti Tax Avoidance Package containing
More informationGuidance for Tax Administrations on the Application of the Approach to Hard-to-Value Intangibles INCLUSIVE FRAMEWORK ON BEPS: ACTION 8
Guidance for Tax Administrations on the Application of the Approach to Hard-to-Value Intangibles INCLUSIVE FRAMEWORK ON BEPS: ACTION 8 June 2018 GUIDANCE FOR TAX ADMINISTRATIONS ON THE APPLICATION OF THE
More informationBEPS Action 14: Making dispute resolution mechanisms more effective
BEPS Action 14: Making dispute resolution mechanisms more effective The Panel Achim Pross, Head, International Cooperation and Tax Administration Division, OECD Doug O Donnell, LB&I Commissioner, IRS Martin
More informationCanadian Back-To-Back Loan Proposals
In This Issue. Canadian Back-To-Back Loan Proposals... 1. Fourth Protocol to Canada Uk Treaty Eliminates Withholding Tax On Arm s Length Interest, but Preserves Tax Exemption for Gains on Disposition of
More informationComments on Public Consultation Document Addressing the Tax Challenges of the Digitalisation of the Economy
Ernst & Young, LLP 1101 New York Avenue, NW Washington, DC 20005-4213 Tel: +202-327-6000 ey.com 6 March 2019 Organisation for Economic Co-operation and Development Centre for Tax Policy and Administration
More informationFINAL PACKAGE OF MEASURES UNDER THE BASE EROSION AND PROFIT SHIFTING ( BEPS ) PROJECT An Indian Perspective
FINAL PACKAGE OF MEASURES UNDER THE BASE EROSION AND PROFIT SHIFTING ( BEPS ) PROJECT An Indian Perspective TABLE OF CONTENTS 02 1. Background 03 2. Action 1: Addressing the tax challenges of the digital
More information32nd Annual Asia Pacific Tax Conference November 2016 JW Marriott Hotel Hong Kong
32nd Annual Asia Pacific Tax Conference 10 11 November 2016 JW Marriott Hotel Hong Kong The consequences of real transparency: Reporting,documentation and reconsidering your Asian structures in light of
More informationTaxation of financial instruments in a changing world
Taxation of financial instruments in a changing world Edoardo Traversa, Professor, Université Catholique de Louvain/Of Counsel, Liedekerke, Brussels Alain Goebel, Partner, Arendt & Medernach Jan Neugebauer,
More informationIP BOX TAX REGIMES. Rod Donnelly Thursday, September 14, 2017
IP BOX TAX REGIMES Rod Donnelly Thursday, September 14, 2017 AGENDA 2 IP Box basics Tax sticks and carrots International landscape harmful tax practices OECD BEPS 2015 action final report topics OECD BEPS
More informationInsurance Tax Insight The Global Tax Reset: BEPS & Insurance
Insurance Tax Insight The Global Tax Reset: BEPS & Insurance On 5 October 2015, the OECD published 13 papers outlining consensus actions under the base erosion and profit shifting (BEPS) project. The output
More informationTransparent Entities and Elimination of double taxation Article 3 and 5 of MLI
Transparent Entities and Elimination of double taxation Article 3 and 5 of MLI October 5, 2018 Vispi T. Patel & Associates Index Background of BEPS BEPS Action Plan 15 (MLI) Constitutional Framework MLI
More informationThe UAE has joined the Inclusive Framework on BEPS
The UAE has joined the Inclusive Framework on BEPS May 2018 In brief The United Arab Emirates ( UAE ) joined the OECD Inclusive Framework on Base Erosion and Profit Shifting ( BEPS ) on 16 May 2018, bringing
More informationA holding company belonging to an equity investor group was not considered as an equity investor
Tax news PwC Finland 2.10.2014 Corporate Income Tax FINLAND A holding company belonging to an equity investor group was not considered as an equity investor Decision 14/1367/3 of the Administrative Court
More informationPrevious OECD work on hybrids concluded that hybrid mismatch arrangements:
BEPS and Hybrids Panelists Achim Pross, Head of International Cooperation and Tax Administration, OECD Martin Kreienbaum, Director General International Taxation, Germany Douglas Poms, Senior Tax Counsel,
More informationEU countries facing BEPS: the case of France. Stéphane Austry Partner, CMS Bureau Francis Lefebvre France
EU countries facing BEPS: the case of France Stéphane Austry Partner, CMS Bureau Francis Lefebvre France Introduction o OECD and G20 countries have indorsed an Action Plan to address Base Erosion and Profit
More informationEU Anti-Tax Avoidance Directive 2: hybrid mismatches with third countries
EU Anti-Tax Avoidance Directive 2: hybrid mismatches with third countries On February 21, 2017 the EU Member States reached agreement on a Directive that will amend the Anti-Tax Avoidance Directive (Council
More informationG8/G20 TAXATION ISSUES : Tax Training Day, ODI, London 16 September 2013
G8/G20 TAXATION ISSUES : Tax Training Day, ODI, London 16 September 2013 BASE EROSION AND PROFIT SHIFTING 2 OECD Work on Taxation Focus has historically been on the development of common standards to eliminate
More informationBase Erosion and Profit Shifting Project and Developing Economies
2015/FMP/WKSP1/021 Session: 6 Base Erosion and Profit Shifting Project and Developing Economies Submitted by: OECD Workshop on Fiscal Management Through Transparency and Reforms Bagac, Philippines 9-10
More informationA Guide To Changes In Irish Tax Rules
A Guide To Changes In Irish Tax Rules - The Global Tax Reform Agenda 6 September 2016 THE FACTS YOU NEED TO KNOW ON IRISH TAX CHANGES 1 INTERNATIONAL TAX RULES HAVE BEEN CHANGING - IRELAND HAS BEEN PARTICIPATING
More informationBEPS ACTION 2: NEUTRALISE THE EFFECTS OF HYBRID MISMATCH ARRANGEMENTS
Public Discussion Draft BEPS ACTION 2: NEUTRALISE THE EFFECTS OF HYBRID MISMATCH ARRANGEMENTS (Treaty Issues) 19 March 2014 2 May 2014 Comments on this note should be sent electronically (in Word format)
More informationBASE EROSION AND PROFIT SHIFTING ISSUES : THAILAND
BASE EROSION AND PROFIT SHIFTING ISSUES : THAILAND ECOSOC Special Meeting on International Cooperation in Tax Matters 5 June 2014 Phensuk Sangasubana The Revenue Department, Thailand CONTENTS Background
More informationThe International Tax Landscape
and EU Tax Reforms How will Ireland, Luxembourg, Netherlands and Switzerland Reform Their Tax Systems to Comply?, Loyens & Loeff NV, PricewatershouseCoopers, PricewaterhouseCoopers 67 th Annual Tax Conference
More informationProposal for a COUNCIL DIRECTIVE. amending Directive (EU) 2016/1164 as regards hybrid mismatches with third countries. {SWD(2016) 345 final}
EUROPEAN COMMISSION Strasbourg, 25.10.2016 COM(2016) 687 final 2016/0339 (CNS) Proposal for a COUNCIL DIRECTIVE amending Directive (EU) 2016/1164 as regards hybrid mismatches with third countries {SWD(2016)
More informationBEPS for telecommunications companies
BEPS for telecommunications companies Driving a new global tax environment for the telecommunications sector Base Erosion and Profit Shifting (BEPS) The Organisation for Economic Co-operation and Development
More informationThe Anti Tax Avoidance Package Questions and Answers (Updated)
European Commission - Fact Sheet The Anti Tax Avoidance Package Questions and Answers (Updated) Brussels, 21 June 2016 1. Why has the Commission made the fight against corporate tax avoidance a priority?
More informationSUBSTANCE IS KING IN THE NEW WORLD ORDER TAX EXECUTIVES INSTITUTE, INC. MARCH 1, 2018
CPAs & ADVISORS experience direction // SUBSTANCE IS KING IN THE NEW WORLD ORDER TAX EXECUTIVES INSTITUTE, INC. MARCH 1, 2018 William D. James Principal Transfer Pricing & David H. Whitmer Director Transfer
More informationTransfer pricing of intangibles
32E30000 - Tax Planning of International Enterprises Transfer pricing of intangibles Aalto BIZ / May 2, 2016 Petteri Rapo Alder & Sound Mannerheimintie 16 A FI-00100 Helsinki firstname.lastname@aldersound.fi
More informationAnswer-to-Question- 1
Answer-to-Question- 1 The arm's length principle is the standard used by all OECD parties in setting and testing prices between related parties. It aims to assess the level of profits which would have
More informationBUSINESS MODELS IN THE CURRENT BEPS ENVIRONMENT DO YOU NEED TO CHANGE? Lyndon James, Partner Pete Rhodes, Senior Manager PwC
BUSINESS MODELS IN THE CURRENT BEPS ENVIRONMENT DO YOU NEED TO CHANGE? Lyndon James, Partner Pete Rhodes, Senior Manager PwC Agenda The current environment and the case for change Australian measures most
More informationתמונת מצב עדכנית ומבט ישראלי - BEPS
תמונת מצב עדכנית ומבט ישראלי - BEPS משה בינה, מנהל בכיר, מחלקת מיסוי בינלאומי, Deloitte Agenda BEPS Background Treaty Related Action Plans Harmful Tax Practices Transfer Pricing Others Next Steps 2017
More informationIBFD Course Programme Principles of International Taxation
IBFD Course Programme Principles of International Taxation Need a good base to start your career in international tax? This course will provide the essential knowledge you need and give you the confidence
More informationGlobal Tax Alert. OECD releases final report on Hybrid Mismatch Arrangements under Action 2. Executive summary
11 October 2015 Global Tax Alert EY OECD BEPS project Stay up-to-date on OECD s project on Base Erosion and Profit Shifting with EY s online site containing a comprehensive collection of resources, including
More informationGlobal Tax Alert. OECD releases report under BEPS Action 2 on hybrid mismatch arrangements. Executive summary
23 September 2014 EY Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/ Services/Tax/International- Tax/Tax-alert-library#date
More information- Simplification rule for pure intermediary companies : remuneration
Theme Source of law Object / Date of application PAST CHANGES Impact / Comments 1. Transfer Pricing Article 56 of the Luxembourg Income Tax Law (LIR) and paragraph 171 Abgabenordnung Introduction of the
More informationIncome Tax Workshop Base eroding payments Tax certainty and BEPS... 29
Contents BEPS IMPLEMENTATION... 3 Implementing BEPS1: Minimum Standards (BL)... 3 Implementing BEPS2: Hybrids, Interests, CFCs... 4 BEPS TRANSFER PRICING... 5 The revised Transfer Pricing Guidelines...
More informationHong Kong SAR Government s Roadmap following the outcomes of the BEPS Consultation
News Flash Transfer Pricing Hong Kong SAR Government s Roadmap following the outcomes of the BEPS Consultation August 2017 In brief On 31 July 2017, the Hong Kong SAR Government (the Government) released
More informationAnalysing BEPS Impact Private Equity sector
Analysing BEPS Impact Private Equity sector January 2016 Second line optional lorem ipsum B Subhead lorem ipsum, date quatueriure In this age of increasing focus on bottomlines, it is indeed tempting for
More informationPrinciples of International Taxation
Overview and Learning Objectives This tax course is designed to provide participants with the essentials of international taxation. The first three days are dedicated to the fundamental concepts relevant
More informationBase Erosion and Profit Sharing Action Plan 11, 12, 14 & 15. Mr. S.P. Singh, Ex-IRS 7th November, 2015
Base Erosion and Profit Sharing Action Plan 11, 12, 14 & 15 Mr. S.P. Singh, Ex-IRS 7th November, 2015 Contents Action 11 - Establishing Methodologies to Collect and Analyze Data on BEPS Action 12 Requiring
More informationImplementing OECD/G20 BEPS Package in Developing Countries
Conducted by Implementing OECD/G20 BEPS Package in Developing Countries An assessment of priorities, experiences, challenges and needs of developing countries Published by: Deutsche Gesellschaft für Internationale
More informationPrinciples of Transfer Pricing
Summary This intermediate-level five-day course introduces participants to transfer pricing principles and methodologies and then covers the application of these principles and methodologies to specific
More informationTax Obstacles in Cross Border Planning
International Fiscal Association USA Branch New York Region Fall Meeting Thursday, December 1, 2016 Tax Obstacles in Cross Border Planning Colleen O Neill Ernst & Young LLP Maarten P. Maaskant PricewaterhouseCoopers
More informationTHE OECD 2017 TRANSFER PRICING GUIDELINES AN INDIAN PERSPECTIVE
THE OECD 2017 TRANSFER PRICING GUIDELINES AN INDIAN PERSPECTIVE FROM OUR CEO The Organisation for Economic Co-operation and Development ( OECD ) on July 10, 2017, released the updated OECD Transfer Pricing
More informationNeutralising the Effects of Hybrid Mismatch
OECD/G20 Base Erosion and Profit Shifting Project Neutralising the Effects of Hybrid Mismatch Arrangements ACTION 2: 2015 Final Report OECD/G20 Base Erosion and Profit Shifting Project Neutralising the
More informationOECD releases draft changes to be incorporated in 2017 update to OECD Model Tax Convention
28 July 2017 Global Tax Alert OECD releases draft changes to be incorporated in 2017 update to OECD Model Tax Convention EY Global Tax Alert Library Access both online and pdf versions of all EY Global
More information