BEPS: The biggest shake-up in tax
The Organisation for Economic Co-operation and Development (OECD) is set this week to unveil a radical overhaul of international taxation. According to our latest International Business Report (IBR), a quarterly survey of 2,580 businesses in 35 economies, 74% of businesses would welcome more global cooperation and guidance from tax authorities. They’d like to know what’s acceptable and unacceptable tax planning, even if this provided less opportunity to reduce tax liabilities. So will the Base Erosion and Profit Shifting (BEPS) Action Plan result in a tax system that’s fairer, more efficient and more understandable? What are the risks and opportunities that may arise?