OECD and EU BEPS policy–the right path taken
Following various tax avoidance scandals which came to light after the economic crises of 2008 many actions were taken the combat Base Erosion and Profit Shifting (BEPS) and various Directives were issued to increase tax transparency. In this context, this article describes and compares the OECD and EU initiatives to combat BEPS and investigates if the measures are in line with its aim and purpose. A second part reflects the current trends regarding disclosure mechanisms, such as Country-by-Country Reporting, Mandatory Disclosure and the Ultimate Beneficial Owner Register. The article explores the significant burden for companies to collect all the information, the practical difficulties and uncertainties resulting from sometimes vague definitions and some policy considerations.
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