BEPS Global Currents
2
Multinational enterprises and governments are bracing for significant international tax reform as the OECD spearheads the Base Erosion and Profit Shifting (BEPS) initiative, which seeks to close the gap on tax planning strategies that allow multinational corporations (MNCs) to artificially shift profits to low or no-tax locations where there is little or no economic activity. In response to the OECD BEPS project, many countries are already moving to enact domestic tax legislation and are expected to sign on to multinational agreements to standardize documentation and ensure transparency across tax jurisdictions. Because it relies on individual countries to drive implementation through supporting legislation, BEPS is projected to add significant complexity and uncertainty to the tax planning and compliance activities of MNCs. To address this movement, BEPS Global Currents from Thomson Reuters Checkpoint provides a comprehensive overview of the latest BEPS developments by country to enable you to: • Respond proactively to the latest developments • Make strategic plans to minimize impact to your organization • Ensure you are in compliance with new laws and standards as they are passed by various countries BEPS Global Currents provides a customizable dashboard of the latest BEPS developments by country, consisting of three main elements: > Comparison charts that offer country-by-country coverage on all 15 action items for 47 countries > News and analysis, including a daily email newsfeed, summary head notes by country and topic and BEPS journal articles and white papers that provide in-depth analysis > Primary source content such as the OECD BEPS Action Items and related documents, domestic legislation, cross-border agreements (treaties, multi-lateral instruments), official announcements, releases, interviews, text of speeches and more BEPS Global Currents gives global tax professionals the knowledge they need to: • Manage the impact of urgent deadlines. Stay on top of new or changing compliance deadlines and requirements with an up-to-date dashboard that contains information and analysis across multiple countries. • Manage Costs. Work with advisors more cost effectively by quickly getting an understanding of pertinent BEPS initiatives in each country. • Manage Complexity. Customize your dashboard to view a concise comparison of countries and BEPS topics. Drill down for further detail where appropriate and filter out what isn’t applicable to your business. • Reduce Uncertainty. Efficiently evaluate which countries allow for broader tax planning and which limit such opportunities. To learn more, call 800.950.1216 or visit tax.thomsonreuters.com/BEPS-Global-Currents BEPS GLOBAL CURRENTS See beyond the surface of the OECD BEPS Action Plan and better understand its impact on your organization.
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Transcript of BEPS Global Currents
Multinational enterprises and governments are bracing for significant international tax reform as the OECD spearheads the Base Erosion and Profit Shifting (BEPS) initiative, which seeks to close the gap on tax planning strategies that allow multinational corporations (MNCs) to artificially shift profits to low or no-tax locations where there is little or no economic activity.
In response to the OECD BEPS project, many countries are already moving to enact domestic tax legislation and are expected to sign on to multinational agreements to standardize documentation and ensure transparency across tax jurisdictions. Because it relies on individual countries to drive implementation through supporting legislation, BEPS is projected to add significant complexity and uncertainty to the tax planning and compliance activities of MNCs.
To address this movement, BEPS Global Currents from Thomson Reuters Checkpoint provides a comprehensive overview of the latest BEPS developments by country to enable you to:
• Respond proactively to the latest developments
• Make strategic plans to minimize impact to your organization
• Ensure you are in compliance with new laws and standards as they are passed by various countries
BEPS Global Currents provides a customizable dashboard of the latest BEPS developments by country, consisting of three main elements:
> Comparison charts that offer country-by-country coverage on all 15 action items for 47 countries
> News and analysis, including a daily email newsfeed, summary head notes by country and topic and BEPS journal articles and white papers that provide in-depth analysis
> Primary source content such as the OECD BEPS Action Items and related documents, domestic legislation, cross-border agreements (treaties, multi-lateral instruments), official announcements, releases, interviews, text of speeches and more
BEPS Global Currents gives global tax professionals the knowledge they need to:
• Manage the impact of urgent deadlines. Stay on top of new or changing compliance deadlines and requirements with an up-to-date dashboard that contains information and analysis across multiple countries.
• Manage Costs. Work with advisors more cost effectively by quickly getting an understanding of pertinent BEPS initiatives in each country.
• Manage Complexity. Customize your dashboard to view a concise comparison of countries and BEPS topics. Drill down for further detail where appropriate and filter out what isn’t applicable to your business.
• Reduce Uncertainty. Efficiently evaluate which countries allow for broader tax planning and which limit such opportunities.
To learn more, call 800.950.1216 or visit tax.thomsonreuters.com/BEPS-Global-Currents
BEPS GLOBAL CURRENTSSee beyond the surface of the OECD BEPS Action Plan and better understand its impact on your organization.
BEPS GLOBAL CURRENTS
©2015 Thomson Reuters. Thomson Reuters, Checkpoint and the Kinesis logo are trademarks of Thomson Reuters and its affiliated companies. T-600837-8-15-MH
COUNTRIES COVERED
Africa
1. South Africa
Asia-Pacific:
2. Australia3. China4. Hong Kong5. India6. Indonesia7. Japan8. Korea9. New Zealand10. Malaysia11. Singapore12. Thailand13. Vietnam
North America
14. Canada15. United States
Europe
16. Austria17. Belgium18. Cyprus19. Czech Republic20. Denmark21. Finland22. France23. Germany24. Greece25. Iceland 26. Ireland27. Italy28. Luxembourg 29. Netherlands30. Norway31. Poland32. Portugal33. Romania34. Russia35. Spain36. Sweden37. Switzerland38. Turkey39. UK
Latin America
40. Argentina41. Brazil42. Chile43. Venezuela44. Mexico
Middle East
45. Egypt46. Israel47. Saudi Arabia
Organizations
48. OECD
EMPOWERING YOU WITH KNOWLEDGE.PREPARING YOU FOR ACTION.tax.thomsonreuters.com/BEPS
OECD BEPS ACTION ITEMS:
Action 1: Challenges of digital economy
Action 2: Hybrid mismatches
Action 3: CFC rules
Action 4: Excessive interest deductions
Action 5: Harmful tax practices and transparency
Action 6: Treaty Abuse
Action 7: PE avoidance
Action 8: Transfer pricing — intangibles
Action 9: Transfer pricing — risk and capital
Action 10: Transfer pricing — high-risk transactions
Action 11: Collect and analyze BEPS data
Action 12: Disclosure of aggressive planning arrangements
Action 13: Transfer pricing documentation
Action 14: Dispute Resolution
Action 15: Multilateral BEPS instrument
