Chris Morgan (KPMG) provides your monthly round-up of tax developments in the international arena.
a European focus but we have also seen some developments here in the UK on implementation of the OECD’s base erosion and profit shifting (BEPS) proposals. On 22 October a long awaited consultation on the UK’s patent box regime was released triggered by the BEPS Action 5 recommendations on countering harmful tax practices. The OECD has concluded that preferential intellectual property (IP) regimes should be based on a modified ‘nexus’ approach linking the benefits to where the substantial activity generating the IP has taken place.
