Chris Morgan examines recent developments, including on automatic exchange of information including FATCA, and updates from Canada, South Africa and Denmark
My last article was written just before the OECD released its Action Plan on Base Erosion and Profit Shifting (BEPS) which was presented to the meeting of G20 finance ministers in Moscow. This is one of the most significant multilateral initiatives for modifying international tax rules in recent history and follows a prolonged period of unprecedented media and political focus on how multinational organisations are taxed and the perceived unfairness in the current system.
The purpose of the action plan is ‘to prevent double non-taxation as well as cases of no or low taxation associated with practices that artificially segregate taxable income from activities that generate it’. The report indicates that ‘no...
