TaxNewsFlash–BEPS, alerts on developments related to the OECD's BEPS initiative and tax transparency as reported by KPMG International member firms from around the world
Bookmark this page for insights from KPMG LLP (KPMG) about the potential implications of this significant development in international tax.
The BEPS project responds to growing concerns among OECD and non-OECD countries alike about the risks to tax revenues, tax sovereignty, and tax fairness that BEPS behaviors pose, in particular when these results lead to unanticipated double nontaxation. Intertwined is the call for enhanced corporate tax transparency—both within corporations striving to understand their full global tax footprint and more broadly by society holding businesses accountable for their tax affairs.
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BEPS implementation is among the top challenges keeping tax executives up at night. This report presents, primarily in chart form, what tax executives are saying about their company's approach to BEPS developments, data required for country-by-country reporting, and resources need to respond to increased reporting requirements.
This summary provides an overview of countries that intend to adopt, or have already adopted, draft or final legislation or regulations implementing Action 13 documentation requirements. Also includes a list of countries who are signatories to the Common Reporting Standard Multilateral Competent Authority Agreement.
For more information, contact one of the team leaders below or e-mail us at US-TAX Int'l Tax Transparency Mailbox.