Asia Pacific: BEPS implications for taxation in the region

Asia Pacific: BEPS implications for taxation

The global movement to curb tax base erosion and profit shifting has gathered steam over the past year, culminating recently with the first wave of concrete results.

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From the proposals of the Organisation for Economic Co-operation and Development (OECD) on tax transparency and transfer pricing to the European Union’s country-by-country tax reporting rules, to unilateral legislative action by countries worldwide, these projects are advancing at a fast pace.

Globally, much of this activity centers on the OECD’s Action Plan on base erosion and profit shifting (BEPS). While countries in Europe and North America may appear to have the strongest voices in the debate, many countries in the Asia Pacific region (ASPAC) are influencing—and being influenced by—the profound international taxation changes that are under review.

How is BEPS-related tax policy evolving in this diverse region? At the mid-point in the OECD Action Plan’s two-year mandate, KPMG International polled senior tax policy specialists in 23 KPMG member firms across ASPAC to take stock of trends and developments in these countries. In particular:

  • How are ASPAC governments responding to the OECD BEPS Action Plan currently in progress?
  • Which ASPAC governments plan to adopt the new international tax guidelines that will be formulated?
  • What unilateral actions to combat BEPS and aggressive tax avoidance are ASPAC governments taking outside of the OECD BEPS process?
  • What are the implications for international companies doing business in the region?
Also, what BEPS activities would ultimately improve taxation of cross-border transactions in ASPAC—or would companies continue to encounter inconsistency and uncertainty for years to come?
Read a  2014 report [PDF 1.59 MB] prepared by KPMG International:  OECD BEPS Action Plan – Taking the pulse in the Asia Pacific region

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