BEPS - Base Erosion & Profit Shifting

BEPS - Base Erosion & Profit Shifting

Ireland’s attractiveness for international business has the potential to increase in a post BEPS world,

Ireland’s attractiveness for international business could increase in a post BEPS world.

The Organisation for Economic Cooperation and Development (OECD) released on 5 October 2015 much heralded final reports under its Action Plan on Base Erosion and Profit Shifting (BEPS). The overall direction of the report recommendations is understood to have gained consensus from over 60 countries participating in work streams under the Plan and was endorsed by the G20 Ministers on 9 October 2015.

The reports are a significant step in the process of designing a framework for the global taxation of cross border business. They represent the conclusion of the discussion and debate phase of the BEPS Plan. They do not complete the process – substantial further multilateral and domestic tax law developments remain ahead as countries decide which measures to enact in the implementation phase of the Plan.

Ireland’s attractiveness for international business has the potential to increase in a post BEPS world as its transparent law and substance-based regime is consistent with the emerging BEPS framework. Still, no doubt challenges and questions remain ahead and your KPMG team is available to help you with these. We encourage you to contact your KPMG tax adviser to discuss them.

Click here to view the OECD 5 October 2015 releases.

For initial insights on what the BEPS Plan measures could mean for you, please explore the KPMG Insights below.

We will provide you with further updates as reactions occur and as thinking develops on the BEPS measures in the coming weeks and months.

KPMG insights on Irish Country by Country legislation

KPMG insights on final BEPS Plan reports

KPMG BEPS updates

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