OECD releases BEPS reports following September deadline
The OECD is keeping its word in preparing and delivering on the objectives as they have been set in the BEPS Action Plan. The deliverables for the September 2014 deadline have just been published and are available on the OECD website (link below). The OECD has published 7 reports (Digital Economy, Hybrid Mismatches, Harmful Tax, Treaty Abuse, Intangibles
BEPS: OECD is gearing up towards the September deadlines
The OECD’s Action Plan on Base Erosion and Profit Shifting (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 the OECD member states, contains 15 separate action points or work streams, some of which are
Upcoming Global OECD BEPS webcasts
In the framework of the upcoming G20 Finance Ministers meeting to be held in Cairns, Australia on 20-21 September 2014, there are two global OECD BEPS webcasts scheduled this month for you in order to guide you through and anticipate on any potential impact on your businesses: BEPS: Global alignment vs national interest?: This first is a live
OECD releases global standard for automatic exchange of tax information
Starting in 2012, political interest has increasingly focused on the opportunities provided by an automatic exchange of information between tax authorities. On 6 September 2013, the G20 Leaders committed to the automatic exchange of information as the new global standard and fully supported the OECD work for developing a single standard for automatic exchange of
OECD Publishes 2014 Update to Model Tax Convention
The OECD Council approved the 2014 Update to the OECD Model Tax Convention (the 2014 Update) on 15 July 2014. The 2014 Update was already approved by the Committee on Fiscal Affairs on 26 June 2014. The 2014 Update can be found here. The 2014 Update mainly reflects the work that was carried out by the OECD
Challenges multinationals may face in completing the OECD’s country-by-country reporting template
On 30 January 2014, the Organisation for Economic Cooperation and Development (OECD) released a discussion draft on transfer pricing documentation and country-by-country reporting (CBCR) which included a template for reporting of income, taxes, and economic activity (CBCR template). The purpose of the CBCR template is to provide tax authorities with the information necessary to conduct
The OECD’s public consultation on transfer pricing documentation and country-by-country reporting on 19 May
The OECD will hold a public consultation on the discussion draft on transfer pricing documentation and country-by-country reporting on 19 May 2014 at the OECD Conference Centre in Paris, France. The public consultation will be broadcast live on the Internet and can be accessed on line. No advance registration will be required for Internet access. Persons wishing
PwC comments on the Discussion Draft on Transfer Pricing Comparability Data and Developing Countries
PwC has provided the OECD with its comments on the ‘discussion draft on transfer pricing comparability data and developing countries’ on 11 April 2014. PwC agrees with the OECD in that comparability is at the heart of transfer pricing, and that the application of the arm’s length principle often relies on a comparison of the prices charged
