The OECD Action Plan, which was presented at the meeting of G20 Finance Ministers on July 19, 2013, makes 15 recommendations that focus on key areas, including the digital economy, hybrid mismatch arrangements, controlled foreign corporation (CFC) rules, excessive intercompany interest payments, harmful tax practices, treaty abuse, avoidance of permanent establishment status, transfer pricing, aggressive tax planning, and greater transparency and disclosure. (See TaxNewsFlash-Canada 2013-27, "OECD Action Plan Could Signal a Shift in the Global Tax Landscape").
G20 reiterates commitment to Action Plan
The G20 Finance Ministers and Central Bank Governors re-iterated their commitment to and support for the OECD Action Plan, including the agreed timetable, in a communiqué dated February 23, 2014.
The revised timetable "BEPS/G20 Project: Calendar for planned stakeholders' input 2013-2014" is available on the OECD site.
For more information, contact your KPMG adviser.
Information is current to February 25, 2014. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500