(February 6, 2015)
The OECD has issued a press release announcing that it will present the latest developments in the OECD/G20 project to combat base erosion and profit shifting (BEPS) by multinational enterprises during a G20 Finance Ministers meeting which is to be held on February 9 and 10, 2015 in Istanbul, Turkey.
According to the press release the OECD and G20 countries have agreed three key elements that will enable implementation of the BEPS Project:
· a mandate to launch negotiations on a multilateral instrument to streamline implementation of tax treaty-related BEPS measures;
· an implementation package for country-by-country reporting in 2016 and a related government-to-government exchange mechanism to start in 2017;
· criteria to assess whether preferential treatment regimes for intellectual property (patent boxes) are harmful or not.
The press release is very extensive and contains links to different documents. In this respect we a.o. refer to the following documents to which the press release contains links(NB the press release contains links to more documents than the ones we selected below):
Via clicking through the documents attached above one can find the documents titled: “OECD/G20 Base Erosion and Profit Shifting Project – Action 5: Agreement on Modified Nexus Approach for IP Regimes”. (Based on a joint proposal as put forward by the UK and Germany)
For further information click here to be forwarded to the full text of the press release as issued by the OECD.
Additionally the OECD announced that it will also organize a Webcast in this respect from 15.00 – 16.00 CET on February 12, 2015. Click here to be forwarded to the announcement the OECD made in this respect. The announcement also contains a link to page where you can register for the webcast.
Looking for a clear and very accessible overview of BEPS documents? Then check-out our sub-section Base Erosion and Profit Shifting in our section OECD & Model Conventions
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