The OECD's Action Plan for tackling base erosion and profit shifting (BEPS) was unveiled on July 19 at the G20 meeting of finance ministers in Moscow. The plan discusses a timeframe of between 12 and 24 months for implementing action and outlines how the OECD will work with national states to improve the overall tax take and clamp down on tax arbitrage by addressing perceived flaws in international rules. The plan specifically references transfer pricing and Sophie Ashley discusses its impact on global principles and how taxpayers can expect them to change.
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Two months since EU political agreement on pillar two and few member states have made progress on new national laws, but the arrival of OECD technical guidance should quicken the pace. Ralph Cunningham reports.