BEPS and Emerging Economies. How Global Is the BEPS Project?
/Pubblicato su: IAFEI Quarterly 35th Issue
The international tax system is undergoing complete renovation. Base erosion and profit shifting (BEPS) is the evil that must be curbed, reduced, most desirably totally eradicated on a worldwide scale.
To this end, the OECD and the G20 crafted the BEPS Project, launched in 2013 with the OECD’s report “Addressing Base Erosion and Profit Shifting”. It targets identified deficiencies in national and international tax rules leaving room for loopholes and mismatches.
These are exploited through aggressive tax planning by taxpayers wishing to minimize their tax burden with the (obvious) consequence that countries’ taxable bases are minimized as well.
