Martin Zetter (Macfarlanes) provides an overview of recent developments, with updates from Poland and India.
At the time of going to press the OECD had just published the first base erosion and profit shifting (BEPS) deliverables. A full reading may reveal some darker materials lurking but a first glance suggests a disappointing lack of specifics. Most of the content is yet to be finalised; for example much of the intangibles document is highlighted to show it is ‘interim guidance’ not yet fully agreed. While it is understandable to seek consistency across all the BEPS actions leaving so much to be finalised next year gives taxpayers little time to implement new arrangements and creates uncertainty.
Meanwhile local country developments continue and I am looking at two examples this month ...
