On Monday 5 October, the OECD will publish its final recommendations on “Base Erosion and Profit Shifting” (BEPS) (http://www.oecd.org/tax/beps.htm ), its policy response to perceived aggressive tax avoidance by multinational corporations. Endorsed by the G20 Finance Ministers and Heads of State, the BEPS project consists of 15 Actions addressing many issues across the tax spectrum varying from transparency to financing to transfer pricing.
Ahead of those recommendations, Chris Morgan, Head of Tax Policy at KPMG in the UK, said:
“The Base Erosion and Profit Shifting (BEPS) proposals are a hugely important development. They will impact any business that operates in multiple territories. We are looking at what could potentially be the biggest shake-up in corporate and international tax in decades.”
KPMG in the UK has a dedicated webpage on BEPS here with some comment and predictions and will be adding to this on 5 October with views and insights on the OECD’s proposals. Chris Morgan will be available for comment.
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Margot Cowhig, KPMG Corporate Communications
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.