OECD public consultation meetings on the Base Erosion and Profit Shifting (BEPS) Project took place in Paris from January 21-23, 2015, where a number of key issues for business including Permanent Establishment (PE) Status (BEPS Action 7), Treaty Abuse (BEPS Action 6), Low Value-Adding Services (BEPS Action 10), and Dispute Resolution (BEPS Action 14), were addressed among business governments and NGOs.
BEPS refers to the G20/OECD initiative designed to rewrite global tax rules to prevent incidences of perceived under- or non-taxation of international companies.
At the consultations, BIAC Tax Committee Chair Will Morris emphasized the absolute importance of effective dispute resolution to a successful outcome for the BEPS Project. He also underlined the need for clarity in guidance regarding all BEPS outcomes. February consultations will address Interest Deductions (Action 4) and VAT B2C Guidelines (Action 1).
Carol Doran Klein, USCIB’s vice president for international tax counsel, participated in the OECD Public Consultation, representing U.S. business interests in BIAC’s work.
In support of its strategy to deepen developing countries’ engagement in the BEPS Project, OECD will also be organizing regional consultations during February and March in Peru, Korea, Turkey, Gabon and South Africa. BIAC is submitting written responses to all BEPS Discussion Drafts.
