An examination of the OECD’S BEPS recommendations to the G20

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This consultation is now closed. You can read the final report here and responses to the consultation here.

The consultation was launched on Monday 23rd November 2015 and focuses on the OECD’s BEPS (Base Erosion and Profit Shifting) process and subsequent recommendations to the G20.

Background

The Base Erosion and Profit Shifting (BEPS) action plan, developed by the OECD since 2013, has identified 15 key areas to combat multinational corporation tax avoidance which were approved by the G20 leaders when they met in November 2015.

The action plan covers a broad range of areas and recommendations including: country-by-country reporting of key financial data by multinationals; model legislation for abusive tax and intellectual property (IP) structures; and guidance on the challenges of taxing the digital economy.

Focus of this consultation

In response to the BEPS process and resulting recommendations, the APPG on Responsible Tax is asking our consultation participants to respond on one or more of the following:

  1. The effectiveness of the OECD’s current BEPS proposals in responding to the globalisation of businesses, the growth of the digital economy and other challenges.
  2. The impact of these proposals on the UK, the EU and other developed economies and developing countries. This includes how developing countries raise revenues and fight poverty [change recommended by Jon Date, Action Aid].
  3.  The UK government’s role in contributing to, supporting and implementing the OECD’s BEPS proposals.
  4. The role of other stakeholders in contributing to, supporting and implementing the OECD’s BEPS proposals.
  5. The scale and distributional impact of BEPS, and the ability of the OECD or others effectively to track progress over time [addition from Alex Cobham, Tax Justice Network].
  6. An assessment of the existing and proposed tax changes in the UK which might impact on the effectiveness of the OECD’s proposals.
  7. The role of non-OECD and non-G20 governments and other international institutions in the agreement of global tax rules [change recommended by Jon Date, Action Aid and Caroline Macfarland, CoVi].
  8. The longer term challenges which cannot be addressed by the current proposals. Including the actions the UK government could take in its tax policies, including tax treaties, to ensure that UK companies do not make use of tax havens for tax minimising purposes [addition from Jon Date, Action Aid].
  9. Principles which could be considered over time as effective mechanisms for dealing with the changing global economy, including the fair and effective taxation of multinational companies [change recommended by Jon Date, Action Aid].

Timescales for submissions

From Monday 16th November until Monday 23rd November we invited comments and feedback on the draft terms of reference. We invited full submissions in the above formats until Thursday 21st January 2015.

You can find responses from others on this page where you will also be able to comment.

When submitting a written response, please clearly state who you are and which organisation you are from (if any). Your response may be referenced in any reports or publications the APPG writes,  and your name will be automatically added to our list of participants.

If you have any questions please contact Katy Owen, appgresponsibletax@covi.org.uk