The OECD Action Plan on BEPS, first introduced in 2013, set 15 specific action points to ensure international tax rules are fit for an increasingly globalized, digitized business world and to prevent international companies from paying little or no tax. After 2 years of outstanding effort, the OECD published guidance on domestic legislative and administrative changes to address all 15 of the Plan’s action points and achieve the G20’s approval by the end of 2015.
KPMG member firms have reflected on action and response to the OECD recommendations in their regions to produce this latest report, released in September 2016, building on previous issues in the “Taking the pulse” series. Most OECD and G20 countries have started to respond to the OECD’s recommendations, and many other countries, are either fully engaged or watching developments closely. Each government has worked to determine how the guidance will affect existing rules and started to undertake the lengthy process of drafting, debating and enacting domestic tax changes. In some countries, years may pass before reforms become law, but many other countries have already implemented changes in an effort to mitigate BEPS.
Please click here to download the September 2016 edition of "Taking the pulse in the European region".