The OECD has established the ad hoc group of over 80 participating countries to work on the development of the BEPS multilateral instrument. The BEPS project sets out 15 actions, many of which cannot be tackled without amending bilateral tax treaties. Action 15 of the BEPS project analyses the possibility of developing a multilateral instrument in order to allow countries to swiftly amend their tax treaties to implement the tax treaty-related BEPS recommendations without having to implement these changes on a treaty by treaty basis. Substantive work will begin at an inaugural meeting in November 2015. For related report, see www.bit.ly/1M3SVoW.
Separately, the OECD has delayed the release of its updated discussion drafts on Actions 8–10 on transfer pricing of intangibles, risk and non-recognition to ‘early July 2015’.
The OECD has established the ad hoc group of over 80 participating countries to work on the development of the BEPS multilateral instrument. The BEPS project sets out 15 actions, many of which cannot be tackled without amending bilateral tax treaties. Action 15 of the BEPS project analyses the possibility of developing a multilateral instrument in order to allow countries to swiftly amend their tax treaties to implement the tax treaty-related BEPS recommendations without having to implement these changes on a treaty by treaty basis. Substantive work will begin at an inaugural meeting in November 2015. For related report, see www.bit.ly/1M3SVoW.
Separately, the OECD has delayed the release of its updated discussion drafts on Actions 8–10 on transfer pricing of intangibles, risk and non-recognition to ‘early July 2015’.
