India reacts to BEPS reports, to decide soon on legislative/administrative action

Joint Secretary & Competent Authority Mr. Akhilesh Ranjan speaks exclusively to Taxsutra on the release of final BEPS reports by OECD

OECD unveils final BEPS reports, emphasises 'co-ordinated' implementation approach; "Paradigm change", says Amans

OECD unveils final reports on BEPS project for all 15 Action Plans post exhaustive process involving 23 discussion drafts,11 public consultations and over 12,000 pages of stakeholder comments; OECD states that 'a comprehensive package of measures has been agreed between the countries' and "BEPS package represents the first substantial – and overdue - renovation of international tax standards in almost a century";  Specifically, in Action Plans 8-10 dealing with 'Aligning Transfer Pricing Outcomes with Value Creation'

Rendezvous with OECD’s Raffaele Russo – Previewing BEPS’ Big Billion day!

The reverse countdown has well and truly begin to OECD releasing its final reports on the BEPS Action Plans. The D-Day - October 5! As the tax world waits with bated breath to see the impact of the culmination of one of the most ambitious tax reforms mission, Taxsutra caught up with senior OECD official & head of BEPS Project - Mr. Raffaele Russo. Mr. Russo, who made a flying visit to India for all of 24 hours last week, took out time for Taxsutra while rushing to the Delhi International airport to catch his flight back to Paris. In an exclusive tete-a-tete with Taxsutra Group Editor Arun Giri, he spoke extensively on the keenly awaited final BEPS reports, the 3 Action Plans that will have the most significant impact, the key implementation challenges of the BEPS recommendations, India’s role in the BEPS project and what the post BEPS world might look like.

Anyone onboard the BEPS Express, wouldn't want to miss this Taxsutra Exclusive with OECD's Raffaele Russo! 

Latest developments on BEPS

There has never been a dull moment in the BEPS journey, since it was first announced in 2012. While OECD gears up for the final lap – the release of the final reports under the BEPS project, Taxsutra brings to you a quick recap of all the key proposals captured in the various discussion drafts under the 15 points Action Plan, inputs from interested stakeholders and OECD’s inputs on progress of the BEPS project  as reported in their webcasts. If you have missed any of the action, here is your chance to jump onto the BEPS bandwagon and catch up on all the important updates and get up to speed on all the latest developments.

OECD to unveil BEPS package on Oct. 5

OECD all set to release the final package of international tax reforms under the OECD/G20 BEPS project on Monday, October 5, 2015; Pascal Saint-Amans, OECD's Tax Policy Director to present the final outcome of the BEPS project via webcast at 2:00 p.m. (CET), followed by a technical briefing on the BEPS deliverables at 4:00 p.m. (CET); Final BEPS package to be presented at the G20 Finance Ministers meet at Lima, Peru on October 8, 2015 

India's take on BEPS

Base erosion on account of shifting of profits outside the jurisdiction where the economic activities deriving the profits are performed, and where value is created, has long been a concern for developing and emerging economies, such as India. Voicing India’s take on BEPS, Ms. Nirmala Sitharaman (Minister of State for Finance) at the G-20 Finance Ministers’ Meeting on International Tax in Cairns, Australia had expressed that While we support the BEPS Project, it is necessary to underline that the concerns of developing countries regarding BEPS may be different from those of developed countries. These concerns are required to be taken on board in a more consultative manner, while developing consensus on the various issues.” 

Senior officials from Indian tax administration also express their views on the BEPS initiative, proposals, concerns and level of India’s participation in this ambitious project, highlighting the proposals that could be potential game-changers for the international tax landscape.

OECD's Top Brass share their views on BEPS

Ever since OECD embarked on its ambitious BEPS mission 3 years ago, its officials have been working relentlessly and tirelessly on developing an effective package of measures to combat base erosion and profit sharing from different angles. Thanks to the painstaking efforts of all the OECD officials involved, the BEPS project has progressed quickly, recommendations have started to take shape and deliverable timelines have been achieved. As OECD gears up to unveil the final package of international tax reforms under the BEPS project in a few hours, check out what senior members from OECD’s Centre for Tax Policy and Administration (CTPA) had to say along the way on the BEPS deliverables, involvement of developing countries, input from stakeholders as well as the planned next steps.

G20 nations endorse OECD's BEPS Action Plan to tackle tax avoidance

G20 Leaders' declaration fully endorses OECD's BEPS Action Plan and proposal for global model for multilateral and bilateral automatic exchange of information; Cross-border tax evasion and avoidance undermine public finances and people’s trust in the fairness of the tax system; Declaration welcomes establishment of the G20/OECD BEPS project to tackle tax avoidance, harmful practices and aggressive taxplanning

OECD releases 15 point BEPS Action Plan; Digital economy, intangibles in focus

On July 19, 2013, OECD released its “Action Plan” at the meeting of G20 Finance Ministers and Central Bank Governers in Moscow, describing specific focus areas for its project on base erosion and profit shifting. The Action Plan set forth the work that OECD would do in 15 areas of international tax law and practice and identified the expected output in these action areas as including OECD reports and analyses, changes to the OECD transfer pricing guidelines, changes to the OECD model tax treaty, recommendations for domestic law and development of a multilateral treaty approach.


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