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OECD releases first BEPS recommendations

AUTHOR(S): Joe Duffy, Aidan Fahy, Catherine Galvin, Turlough Galvin, Shane Hogan, Alan Keating, John Kelly, Greg Lockhart, Catherine O’Meara, Mark O’Sullivan, John Ryan, Gerry Thornton
PRACTICE AREA GROUP: Tax, BEPS
DATE: 16.09.2014

Today, the OECD released its first recommendations under the base erosion and profit shifting (“BEPS”) project in a series of reports.  These reports relate to:

  • The tax challenges of the digital economy (Action 1)
  • Hybrid mismatch arrangements (Action 2)
  • Harmful tax practices (Action 5)
  • Tax treaty abuse (Action 6)
  • Transfer pricing issues in the key area of intangibles (Action 8)
  • Transfer pricing documentation and country-by-country reporting (Action 13)
  • The feasibility of developing a multilateral instrument on BEPS (Action 15)

The reports and an explanatory statement issued by the OECD are now available.

Matheson is an active participant in the BEPS debate at a national and international level.  We have participated in the OECD’s consultation process and in the BEPS consultation launched by the Irish Department of Finance (the “Irish Consultation”).  We will keep you informed of the outcome of the Irish Consultation and any relevant announcements made in next month’s budget statement.

Matheson is happy to discuss any aspect of the BEPS project with you in further detail.  Please do not hesitate to contact your usual Matheson contact.

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