OECD's work on Tax Planning
OECD is at the forefront of efforts to improve international tax co-operation between governments to counter international tax avoidance and evasion. In furtherance of these goals the OECD set up the ATP Steering Group in 2004 to act as a centre of knowledge and expertise on international tax planning. The Steering Group began with membership of 7 countries and has now grown to a full working party of 46 OECD and G20 countries. The OECD’s work focuses on identifying trends in international tax planning and helping governments to respond more quickly and effectively to emerging risks. The work is informed by a library of over 400 aggressive tax planning schemes stored on the OECD ATP Directory, a confidential database of schemes maintained by sub-group of countries that are members of WP11.
Base erosion and profit shifting (BEPS) refers to tax planning strategies that exploit gaps in the architecture of the international tax system to artificially shift profits to places where there is little or no economic activity or taxation. The CFA has invited Working Party 11 (Aggressive Tax Planning), to carry out the work in relation to 4 of the items under the BEPS Action Plan.
- Action 2 on Neutralising the Effects of Hybrid Mismatch Arrangements
- Action 3 on Strengthening CFC rules
- Action 4 on Limiting Base Erosion via Interest Deductions and Other Financial Payments.
- Action 12 on Requiring Taxpayers to Disclose their Aggressive Tax Planning Arrangements.
The report on Action 2 was published in September 2014 and the reports on Actions 3, 4 and 12 are due to be published in September 2015.
18 December 2014
Action 4 - Public release of discussion draft
6 February 2015
Action 4 - Deadline for comments on discussion draft
17 February 2015
Action 4 - Public consultation
Late March 2015
Action 12 - Public release of discussion draft
Early April 2015
Action 3 - Public release of discussion draft
11 May 2015
Action 12 - Public consultation
12 May 2015
Action 3 - Public consultation