Tax, BEPS and your business

Tax, BEPS and your business

BEPS represents a fundamental change to the corporate tax landscape and it's effect will be felt across your whole business.

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Tax, BEPS and your business

The OECD’s Base Erosion and Profit Shifting (“BEPS”) project represents a fundamental change to the corporate tax landscape.  It is tempting to assume that its impact will be limited to the tax department but the reality is that the changes are extensive and will have a broader influence, their effect felt widely – whether by treasury, finance or HR; through the impact on the group’s operating model, investment profile and M&A strategy; or on the group’s public profile.

Background

In October 2015, the OECD delivered its final package of reports, which set out the conclusions and recommendations of each action item. The BEPS recommendations are wide ranging, covering financing, operating models, compliance and reporting.  

The publication of the reports also marked a crucial shift from the consultation and recommendation phase of BEPS to legislation and implementation of the proposals by local countries.  Many countries have already adopted or are poised to adopt changes to their international tax systems based on the OECD recommendations.  

The impact of BEPS

The OECD’s BEPS initiative presents significant implications for tax compliance and reporting functions, transfer pricing policies and oversight, tax audits and dispute resolution, and the reputation of corporate groups.  There is also much interest in the specific recommendations relating to financing and operational functions.  

The impact of BEPS is not confined to the tax department.  As we move further into the implementation phase, the broader effect on the business will become apparent in the cost of financing, on the supply chain and on the increase in publically available information on the activities of multinational groups amongst other things.  

We examine the implications of BEPS on the following areas of your business:

A summary of the key points can be downloaded in our docment  “BEPS:  25 Reasons it’s not just about tax

Tax, BEPS and your business: Treasury

Tax, BEPS and your business: Treasury

How the OECD's BEPS recommendations will affect your treasury activity.

Tax, BEPS and your business: Operating model

Tax, BEPS and your business: Operating model

How the OECD's BEPS recommendations will impact your operating model.

Tax, BEPS and your business: People and resource

Tax, BEPS and your business: People and resource

Employees and executives will also be affected by the BEPS recommendations from the OECD.

Tax, BEPS and your business: M&A

Tax, BEPS and your business: M&A

The effect BEPS will have on future M&A deals and due diligence.

Tax, BEPS and your business: Public profile

Tax, BEPS and your business: Public profile

The implications of the BEPS recommendations' focus on reporting and transparency.

Base Erosion and Profit Shifting

Base Erosion and Profit Shifting

The global tax landscape is fundamentally changing and BEPS is putting tax firmly on the strategic business agenda.

© 2017 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

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