New Mandatory Taxpayer Disclosure Rules Released | KPMG | CA

OECD - New Mandatory Taxpayer Disclosure Rules Released for Discussion

OECD - New Mandatory Taxpayer Disclosure Rules Released

Global Tax Adviser, April 07, 2015. The OECD released a discussion draft under BEPS Action 12 "Mandatory Disclosure Rules".

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The OECD recently released a discussion draft under BEPS Action 12 "Mandatory Disclosure Rules", which requires taxpayers to disclose their aggressive tax planning arrangements. In particular, the 83-page discussion draft:

  • Provides an overview of mandatory disclosure regimes, based on the experiences of countries that have these regimes
  • Outlines mandatory disclosure regime recommendations, including recommendations on the rules designed to capture international tax schemes
  • Sets out a standard framework for a mandatory disclosure regime to provide consistency while allowing flexibility to deal with country-specific risks and
  • Allows tax administrations to control the quantity and type of disclosure.

The deadline for public comments is April 30, 2015, and a public consultation meeting will be held on May 11, 2015.

For more information, contact your KPMG adviser.

Disclaimer

Information is current to April 07, 2015. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.

For more information, contact KPMG's National Tax Centre at 416.777.8500

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