Chris Morgan reviews recent developments in international tax
The big event this month was the chancellor’s Budget but unusually there was very little of significance announced in the international tax area. Of most note was a paper published by the government alongside the Budget documents which discusses the OECD’s action plan on base erosion and profit shifting (BEPS). This paper sets out the key factors that the government will take into account when developing its policy towards the BEPS negotiations and discusses each of the 15 actions to address BEPS.
The paper confirms that the government is committed to the ambitious BEPS project timetable. It considers that international cooperation is the only way to counter tax avoidance in the global economy and that acting unilaterally would be ineffective and counterproductive. It also sets...
