BEPS global webcast series: Stay abreast of changes
The OECD’s base erosion and profit shifting (BEPS) project is likely to spur the most significant changes to the taxation of international business in nearly 30 years.
With the debate having reached the highest levels of governments, and with growing attention from the media and the public international tax, BEPS continues to grow in prominence. The OECD’s Action Plan on BEPS was published in July 2013 with a view to addressing perceived flaws in international tax rules. The 40 page Action Plan, which was negotiated and drafted with the active participation of its member states, contains 15 separate action points or work streams, some of which are further split into specific actions or outputs. The Plan is squarely focused on addressing these issues in a coordinated, comprehensive manner, and was endorsed by G20 leaders and finance ministers at their summit in St. Petersburg in September 2013.
With the OECD BEPS project finalizing their recommendations in December 2015, some countries have already begun implementing changes to their tax systems. Companies will need to begin assessing the impact on business operations, and preparing to meet the challenge of the modern tax system.
As this debate develops, PwC will be providing strategic analysis of what BEPS means here in Australia, leveraging our network of international taxation, transfer pricing and tax controversy specialists from here and around the world to provide you with insights.
Simon Rooke, PwC Australia Tax Controversy Partner, speaks with Pascal Saint-Amans, Tax Director from the OECD about what’s next for the BEPS project.