OECD - Action plan on base erosion and profit shifting (BEPS) presented to G20 leaders  

September 5: The Organisation for Economic Co-operation and Development (OECD) today released, in advance of the meeting of the G20 leaders, a report describing the status of the OECD’s efforts and action plan to address base erosion and profit shifting (BEPS).

The OECD report (posted on the OECD website) also describes proposals to establish the automatic exchange of information for tax purposes as the new international standard for tax co-operation.

The OECD report consists of two parts:

  • Part I is a progress report to the G20 leaders by the Global Forum on Transparency and Exchange of Information for Tax Purposes.
  • Part II is a report by the OECD Secretary-General regarding the work on base erosion and profit shifting (BEPS) and efforts to address offshore tax evasion. The OECD Secretary-General report includes details about the BEPS action plan, as well as a proposal to move globally towards automatic exchange of information.

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