The OECD BEPS Project - Update on Implementation Efforts and Implications Around the Globe

This article is the first in a series of three that will discuss the ever-changing international tax environment in light of the Organisation for Economic Co-operation and Development’s (OECD) effort to address the perceived global problem of base erosion and profit shifting (BEPS). In this first article, we begin with an overview of the BEPS key focus areas and provide an analysis of the current environment in which legislative changes will be made. The second article will provide a country-by-country survey of BEPS-type legislation that is being implemented or considered around the world. The third article of this series will discuss how BEPS is influencing tax reform proposals in the US and the practical limits of implementing such reforms due to administrative and funding challenges.