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PKF International

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OECD BEPS Country Updates

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OECD BEPS Action Plan Status Update Report - December 2016

The Organisation for Economic Co-operation and Development (OECD) finalised its Base Erosion and Profit Shifting (BEPS) reports in 2016 and from our last survey conducted in March 2016 we have seen many more countries adopting the OECD BEPS measures into domestic legislation and more transparency emerging.

Notably, in August 2016, Apple’s deal with the government of Ireland was declared ‘illegal’ by Margrethe Vestager, the European Commissioner in charge of competition policy, when she spoke about €13 billion illegal tax benefits which she believed had been received by Apple’s from a deal which “enabled it to pay substantially less tax than other businesses over many years”. The Apple arrangement in Ireland lacked substance and commerciality and was seen to be an example of what the OECD’s BEPS measures hope to prevent in the future.

Following its first survey in March 2016, PKF is delighted to now provide its second survey which presents the further progress of various countries in adopting the OECD BEPS measures as at December 2016.

A copy of the ‘PKF OECD BEPS Action Plan Status Update Report - December 2016’ may be obtained from the link below.

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