This report explores the way the Americas region is responding to the OECD Action Plan on BEPS, first introduced in 2013. The Action Plan set 15 specific action points to ensure international tax rules are fit for an increasingly globalized, digitized business world and to prevent international companies from paying little or no tax. In October 2015, after 2 years of outstanding effort, the OECD published guidance on domestic legislative and administrative changes to address all 15 of the Plan’s action points and achieve the G20’s approval by the end of 2015. The recommendations gained the G20’s approval on 16 November 2015.
Most OECD and G20 countries have been engaged in the OECD’s work, and many other countries in the Americas and worldwide are either fully engaged or watching developments closely. Each government will have to determine how the guidance affects its existing rules, and then undertake the process of proposing, debating, and enacting domestic tax changes. In some countries, years may pass before reforms become law.