What is the OECD doing under BEPS action 4?

What is the OECD doing under BEPS action 4?

The OECD has released a discussion draft which deals with the design and operation of the group ratio rule under BEPS Action 4 and the standardised IT-format for the exchange of tax rulings between jurisdictions under BEPS Action 5. It also announced that Angola has become the 83rd member of the Inclusive Framework on BEPS.

Why do developing countries suffer from BEPS disproportionately?

Domestic tax base erosion and profit shifting (BEPS) due to multinational enterprises exploiting gaps and mismatches between different countries’ tax systems affects all countries. Developing countries’ higher reliance on corporate income tax means they suffer from BEPS disproportionately.

Who is Thomas Manfredi?

Statistician and Econometrician at the Directorate of Employment Labour and Social Affairs, OECD Thomas Manfredi is a Statistician and Econometrician at the Directorate of Employment Labour and Social Affairs at the OECD.

What is OECD/G20 Inclusive Framework on BEPS?

Under OECD/G20 Inclusive Framework on BEPS, 140 jurisdictions have committed to implement minimum standards to improve the taxation of multinational enterprises (MNEs) worldwide.

What is the OECD/G20 BEPS project?

Representatives of countries and jurisdictions worldwide will gather in Kyoto, Japan on 30 June and 1 July for a special meeting of the OECD Committee on Fiscal Affairs organised to take forward the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project.

How has the inclusive framework on BEPS improved tax transparency?

As part of continuing efforts to improve tax transparency, the Inclusive Framework on BEPS has now assessed 92 individual jurisdictions’ progress in spontaneously exchanging information on tax rulings, in accordance with Action 5 of the OECD/G20 BEPS package.

What is BEPS (Base Erosion and profit shifting)?

Base Erosion and Profit Shifting (BEPS) refers to tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations where there is little or no economic activity, resulting in little or no overall corporate tax being paid. Find out more about the OECD/G20 BEPS Project