Consistent with our commitment to provide updated information on current tax issues, we provide KPMG International’s release providing action-by-action observations to help organizations understand the potential impacts of the final recommendations for the 15-point Base Erosion and Profit Shifting (BEPS) Action Plan released by the Organisation for Economic Co-operation and Development (OECD).
On 5 October, the OECD released its final action plan recommendations for BEPS. While implementation and timing will vary across borders - and some European jurisdictions have already incorporated aspects of the plan - this final OECD release marks a crucial shift from the recommendation and consultation phase of BEPS to legislation and implementation.
Many governments around the world will now turn their attention to incorporating the OECD recommendations into local tax laws, while others will take a wait and see approach, observing the ways in which other jurisdictions translate the changes into their domestic policies. Regardless of where they are headquartered, multinational organizations will feel the impact of the changes ahead, which will include stronger calls for transparency, more stringent transfer pricing policies and greater reporting obligations.
To help multinationals assess the potential impacts, tax professionals from KPMG member firms have analyzed the latest OECD recommendations and issued action-by-action observations, which include:
Greek Groups will also be impacted and in this respect actions will need to be carried out.
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