OECD Releases Final BEPS Project Reports

    View Authors October 2015

    On October 5, 2015, after more than two years of work on the Base Erosion and Profit Shifting (BEPS) Project, the Organisation for Economic Co-operation and Development (OECD) released a final package of proposals for “comprehensive, coherent and coordinated reform of the international tax rules.”  These final BEPS proposals will be formally presented today, October 8, 2015, at the G20 Finance Ministers meeting in Lima, Peru, and will be considered by world leaders in November during the G20 Summit in Antalya, Turkey. While the OECD has finalized its proposals, it now falls to individual countries to implement these proposals through changes to their tax and legal systems – a task that could present significant challenges.

    These 15 proposals are intended to combat the adverse impacts of BEPS, which are perceived to be the result of tax planning undertaken by multinational enterprises (MNEs) that take advantage of so-called tax “loopholes”  under current international tax rules. This article provides a brief overview of the final OECD BEPS reports.