BEPS - What Are We Headed For?
/With the BEPS (Base Erosion and Profit Shifting) project nearing its completion, it is time for the private sector and Stakeholders in general to get ready for the expected changes, whatever they will be.
We have entered into an era grounded on tax transparency, multilateral cooperation and information exchange.
In this scenario, Multinationals need not only warrant their “global consistency”, but should also understand their business environment, and be aware of any international tax development (at domestic/international level); they should also be able to have a good grasp of global trends (multilateral cooperation), while anticipating and assessing potential risk areas (and such transactions that tax authorities may be targeting), so as to avoid or limit tax audits and tax disputes, especially because tax disputes and tax audits are most likely to increase, after BEPS’ measures implementation.
Published in IAFEI e-Journal August 2015 Transition Issue No. 2
