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

OECD: BEPS Action 12 (mandatory disclosure rules)

The Organisation for Economic Co-operation and Development (OECD) today released a discussion draft under the base erosion and profit shifting (BEPS) project—BEPS Action 12 (Mandatory Disclosure Rules).

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BEPS Action 12 requires taxpayers to disclose their aggressive tax planning arrangements.

The BEPS Action 12 discussion draft [PDF 668 KB]:

  • Provides an overview of mandatory disclosure regimes, based on the experiences of countries that have such regimes
  • Sets out recommendations for a modular design of a mandatory disclosure regime including recommendations on rules designed to capture international tax schemes
  • Sets out a standard framework for a mandatory disclosure regime to provide for consistency while allowing flexibility to deal with country-specific risks and to allow tax administrations to control the quantity and type of disclosure

According to today’s OECD release, the work on BEPS Action 12 is to be completed by September 2015.

Comments on this discussion draft are requested, and must be submitted by 30 April 2015.

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