Pascal Saint-Amans, the OECD’s director for tax policy, today affirmed the base erosion and profit shifting (BEPS) action plan will be completed in two years, while European Commission tax head Philip Kermode said he backs the plan as long as it does not interfere with member states’ EU treaty obligations.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap