Politicians, officials and taxpayers spelled out the need for the outcomes of the BEPS project to work for companies and governments at the European Tax Policy Forum annual conference in London this week.
A survey of chief executive officers about the global economy has produced a number of headline-grabbing figures about their attitudes to tax, such as a surprising high level of support for country-by-country reporting, which would require them to disclose their companies’ income, profit and tax in each country in which they operate.
Consistency has displaced complexity and predictability as the most important tax factor driving investment decisions in Asia-Pacific. Reputational risk and tax planning, as well as BEPS, also featured as important considerations for respondents to a survey of tax executives.
It is not a global information reporting network yet, but the US Treasury and Internal Revenue Service’s announcement this week that increases the number of intergovernmental agreements for the Foreign Account Tax Compliance Act (FATCA) from 26 to 48 in one go brings that idea much closer.
