Karl Kellar and Lori Hellkamp (Jones Day, Washington, USA) review the US response to the BEPS report.
The United States’ response to the BEPS 2015 final report released on 5 October varies depending on whom one asks: Congress the Administration or the private sector. Broadly speaking representatives from both branches of government have been sceptical of the BEPS process. This presumably stems from a general impression that the BEPS initiative originated at least in part from the desire of foreign governments to capture more tax revenue from US-based multinationals. Some legislators are openly hostile. US Treasury representatives are more cautious in their criticisms not wanting to openly oppose the developing international consensus and wanting to retain a seat at the table as new norms of global taxation evolve.
The Treasury believes that in general...
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Karl Kellar and Lori Hellkamp (Jones Day, Washington, USA) review the US response to the BEPS report.
The United States’ response to the BEPS 2015 final report released on 5 October varies depending on whom one asks: Congress the Administration or the private sector. Broadly speaking representatives from both branches of government have been sceptical of the BEPS process. This presumably stems from a general impression that the BEPS initiative originated at least in part from the desire of foreign governments to capture more tax revenue from US-based multinationals. Some legislators are openly hostile. US Treasury representatives are more cautious in their criticisms not wanting to openly oppose the developing international consensus and wanting to retain a seat at the table as new norms of global taxation evolve.
The Treasury believes that in general...
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