TaxNewsFlash-BEPS — KPMG's reports of developments of interest to multinationals on the OECD's base erosion and profit shifting (BEPS) initiative and tax transparency.

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BEPS Action 13: Latest country implementation update

Updated weekly, this summary report in table format offers a snapshot of implementation of country-by-country (CbC) reporting and Master file / Local file documentation requirements around the world.

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August 2016

25 Aug - OECD: Initial analysis of discussion draft, branch mismatch structures

25 Aug - OECD: Public comments, group ratio rule under BEPS Action 4

24 Aug - U.S. Treasury “white paper” on EC’s state aid investigations of transfer pricing rulings

24 Aug - OECD: Comments on proposed amendments, OECD Transfer Pricing Guidelines

22 Aug - Liechtenstein: Automatic exchange of country-by-country reporting

22 Aug - OECD: Discussion draft, branch mismatch structures under BEPS Action 2

18 Aug - Czech Republic: Automatic exchange of APAs, country-by-country reporting proposals

16 Aug - Israel: Country-by-country reporting, transfer pricing documentation in budget plan

11 Aug - Nigeria: Country-by-country reporting, implementation moves forward

9 Aug - Canada: Discussion, observations about country-by-country reporting proposal

8 Aug - Asia Pacific: Country-by-country reporting, status update for region

8 Aug - EU: Country-by-country reporting—an EU perspective

5 Aug - Australia: Review of transfer pricing developments since 2012; plans for more BEPS changes

5 Aug - Luxembourg: Draft law for country-by-country reporting submitted to Parliament 

3 Aug - Canada: Country-by-country reporting requirements in draft legislative proposals

1 Aug - KPMG report: Discussion draft on approaches to address BEPS involving Interest in banking and insurance sectors

1 Aug - KPMG report: Indirect tax implications of BEPS project

1 Aug - Korea: Revised legislation, transfer pricing and country-by-country reporting rules

August 2015

27 Aug - US tax committee chairs question country-by-country reporting

24 Aug - China: Managing IP tax challenges in BEPS environment

20 Aug - Korea: Law to implement BEPS-related transfer pricing requirements

14 Aug - UK: Common framework for disclosing tax information

12 Aug - Australia: Country-by-country reporting update

7 Aug - Australia: Proposed CbC, transfer pricing documentation requirements


July 2015

17 Jul - Finance chairman expresses concerns with BEPS project


June 2015

30 Jun - OECD: BEPS status, as of June 2015

19 Jun - OECD: Comments, BEPS Action 8 (hard-to-value intangibles) discussion draft

18 Jun - OECD: Comments, discussion draft BEPS Action 6 (treaty abuse)

17 Jun - EU: Plan to curb corporate tax avoidance

15 Jun - OECD: Comments, BEPS Action 7 discussion draft (PE status)

11 Jun - OECD webcast provides BEPS status update

8 Jun - OECD: Implementation package for BEPS country-by-country reporting

5 JunOECD: Initial impressions, BEPS Action 8 (hard-to-value intangibles)

4 Jun - OECD: Discussion draft, BEPS Action 8 (hard-to-value intangibles)

1 Jun - OECD: Comments on BEPS Action 8 (cost contribution arrangements)


May 2015

28 May - OECD: Developing BEPS multilateral instrument

27 May - KPMG report: Revised discussion draft, BEPS Action 7 (artificial avoidance of PE status)

22 May OECD: Revised discussion draft, BEPS Action 6 (treaty abuse)

20 May - Tax treaty update: Proposed revisions to U.S. Model Tax Convention

15 May - BEPS: Action 7 preventing artificial avoidance of PE status

13 May - Australia: Transfer pricing-related measures in federal budget 2015

5 May - OECD: Discussion of BEPS Action 8 (cost contribution arrangements)

1 May - BEPS: KPMG comment letters on Actions 3 and 12


April 2015

29 Apr - OECD: Discussion draft, BEPS Action 8 (cost contribution arrangements)

27 Apr - OECD: BEPS Action 11 (improving analysis of BEPS)

20 Apr - KPMG report: Initial analysis of BEPS Action 3, (strengthening CFC rules) discussion draft

16 Apr - OECD: Discussion draft, BEPS Action 11 (improving BEPS analysis)

9 Apr - BEPS: Initial impressions of discussion draft (Action 12)

3 Apr - OECD: Discussion draft, BEPS Action 3 (CFC rules)

1 Apr - China: Guidance clarifying international tax rules, tax treaties


March 2015

31 Mar - OECD: Discussion draft, BEPS Action 12 (mandatory disclosure rules)

31 Mar - Spain: Enhanced documentation, reporting proposed; following BEPS Action 13

20 Mar - UK: Diverted profits tax, final legislation next week

18 Mar - EU: Tax transparency package, corporate tax avoidance


February 2015

25 Feb - Canada: Intercompany management fees

20 Feb - OECD: Agreement on modified nexus approach for IP regimes

19 Feb - OECD: Consultation on transfer pricing, 19-20 March

12 Feb - OECD: Transfer pricing documentation, country-by-country reporting

11 Feb - OECD: BEPS Action 4, public comments

10 Feb - OECD: BEPS comments, transfer pricing guidelines

9 Feb - OECD: Comments on BEPS Action 4

6 Feb - OECD: BEPS implementation update

6 Feb - OECD: Update on BEPS country-by-country reporting


January 2015

23 Jan - Ireland: BEPS and Irish business

23 Jan - OECD: Public consultation, BEPS Action 14 (dispute resolution)

22 Jan - OECD: Public consultations on BEPS Actions 6, 7

20 Jan - OECD: Comments concerning BEPS Action 10 (low value-adding services)

19 Jan - OECD: Comments concerning BEPS Action 14 (dispute resolution)

19 Jan - Australia: Arm’s length consideration and related-party loan

12 Jan - OECD: Comments on BEPS Actions 6 and 7

6 Jan - Japan: Tax reform proposals of new government coalition

2014 Articles

December 2014

23 Dec - OECD: Impressions concerning proposed Transfer Pricing Guidelines revisions

22 Dec - OECD: Initial impressions of MAP-related draft (BEPS Action 14)

19 Dec - OECD: Initial impressions of discussion draft (BEPS Action 10)

19 Dec - OECD: Initial impressions of discussion draft (BEPS Action 4)

19 Dec - EU: Luxembourg to comply with EC tax rulings investigation

19 Dec - OECD: Transfer pricing (BEPS Actions 8, 9 and 10)

18 Dec - OECD: Profit splits, global value chains (BEPS Action 10)

18 Dec - OECD: VAT/GST discussion drafts, relating to BEPS Action 1

18 Dec - OECD: Discussion draft on interest deductions (BEPS Action 4)

18 Dec - OECD: Discussion draft on dispute resolution (BEPS Action 14)

16 Dec - EU: Report on patent boxes, hybrid entities

16 Dec - OECD: Transfer pricing-related discussion drafts (BEPS Action 10)

15 Dec - Responses to UK’s “diverted profits tax”

10 Dec - UK: Finance Bill draft clauses; diverted profits tax

10 Dec - Luxembourg: Proposal to codify transfer pricing practice, advance rulings

9 Dec - EU: Measures approving anti-abuse clause, mandatory exchange of information

5 Dec - BEPS: Description of BEPS proposals in the UK

3 Dec - UK: Hybrid mismatch arrangements consultation, other BEPS-related focus

2 Dec - OECD: Webcast update on BEPS project (15 December)

2 Dec - Norway: Proposals for tax reform; maritime industry considerations

1 Dec - New Zealand: Inland Revenue’s timeline for BEPS consultations


November 2014

21 Nov - BEPS: follow-up work under Action 6 (prevent treaty abuse)

18 Nov - EU: Country actions, reactions to BEPS project

17 Nov - BEPS: Tax-related agreements from meeting of G20 leaders

12 Nov - OECD: Developing countries and BEPS

12 Nov - Germany: Agreement with UK on preferential IP regimes (BEPS)

10 Nov - OECD: Transfer pricing and BEPS Action 10 discussion draft

6 Nov - KPMG report: BEPS Action 7 discussion draft on preventing artificial avoidance of PE status

5 Nov - Asia Pacific: BEPS implications for taxation in the region

4 Nov - Canada: Resource companies to publish reports of tax payments

4 Nov - Latin America: BEPS implications for taxation in the region

4 Nov - Germany: Proposals for new anti-hybrid financing rule, intra-group transfers

3 Nov - OECD: Low value-adding intra-group services (BEPS Action 10)


October 2014

31 Oct - OECD: Prevent avoidance of PE status (BEPS Action 7)

22 Oct - OECD: BEPS, exchange of financial information to be addressed

10 Oct - United Kingdom: Consultation on BEPS hybrid mismatch arrangement announced

8 Oct - Australia: ATO’s response to seven BEPS action items

7 Oct - OECD: Comments published on BEPS Action 11

1 Oct - OECD: Timetable for publication of BEPS discussion drafts, comments


September 2014

29 Sept - Hong Kong: BEPS 2014 deliverables

26 Sept - Australia: Increased transfer pricing focus on intangible transactions

22 Sept - EU: Corporate tax-avoidance package (BEPS) endorsed by G20 ministers

19 Sept - Australia: Implications of BEPS deliverables for Australian businesses

19 Sept - India: Implications of BEPS for businesses in India

19 Sept - Netherlands: Dutch Cabinet’s initial response to BEPS recommendations

19 Sept - New Zealand: Implications of BEPS for New Zealand businesses

19 Sept - Japan: Main points of BEPS deliverables for Japanese businesses

19 Sept - OECD: Recommendations on preventing treaty abuse (BEPS Action 6)

19 Sept - United Kingdom: Updated FATCA guidance; BEPS deliverables

18 Sept - Canada: Potential implications of BEPS changes for Canadian corporations

18 Sept - OECD: Recommendations for multilateral instrument to modify tax treaties (BEPS Action 15)

18 Sept - OECD: Recommendations to counter harmful tax practices (BEPS Action 5)

18 Sept - OECD: Transfer pricing documentation, country-by-country reporting (BEPS Action 13)

16 Sept - OECD: First seven BEPS-related instruments, reports are presented

OECD BEPS Action Plan

The global campaign to address tax base erosion and profit shifting (BEPS) is in full swing, dramatically changing the Tax landscape.

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