• Service: Tax, Tax & Legal Services, EU Tax Centre
  • Type: Business and industry issue, KPMG information
  • Date: 28/02/2014

Update on OECD action plan on BEPS 

We are now six months on since the OECD released its widely anticipated Action Plan (“Plan”) on Base Erosion and Profit Shifting (“BEPS”).

On 19 July 2013, the OECD released its Plan which set out a series of actions on BEPS.


The Plan:

  1. Identified actions,
  2. Set deadlines to implement those actions, and
  3. Identified the resources needed and the methodology to implement the actions.


In the Overview of action plan on BEPS section you can see, at a glance, the different Plan actions and implementation timelines. In a recent update, the OECD has confirmed that these timelines remain unchanged.


With the additional insights on the direction of Plan outcomes that have emerged in the last six months, KPMG has taken the actions in the Plan and attempted to gauge the potential impact on Ireland’s tax regime. In the section on Ireland’s tax regime, our conclusion is that if the Plan’s actions are implemented, Ireland will remain a highly attractive location for business.


A number of key outputs from the Plan actions that affect companies operating in the digital economy and those with high value intangible are expected in the coming months. See Transactions with non-Irish entities to identify the Plan outputs expected over the next number of months and to review KPMG’s assessment of how the Plan might affect your business.


The Plan contains proposals which may limit some tax deductions for interest expense on debt financing. If your group has significant volumes of intra group financing flows, Intra group financing reviews the Plan actions and upcoming developments which have been identified by KPMG as potentially having an impact on financing flows.


See Overview of action plan on BEPS to view KPMG’s assessment of changes that could, if implemented by countries, affect financial services companies providing finance to customers through a range of leasing and other financial products and those that deliver financial services online to overseas customers.


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