Search results
Results From The WOW.Com Content Network
In contrast, the OECD has spent decades developing intellectual property as a legal and a GAAP accounting concept. [59] Ireland, who has some of the most advanced IP-based BEPS tools in the world, [60] and have the first OECD-approved IP-box, [61] has been a supporter of the OECD BEPS project (see Feargal O'Rourke quote). [62]
The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, sometime abbreviated BEPS multilateral instrument, is a multilateral convention of the Organisation for Economic Co-operation and Development to combat tax avoidance by multinational enterprises (MNEs) through prevention of Base Erosion and Profit Shifting (BEPS).
The BEPS tools used by tax havens have been known and discussed for decades in Washington. [50] For example, when Ireland was pressured by the EU–OECD to close its double Irish BEPS tool, the largest in history, to new entrants in January 2015, [51] existing users, which include Google and Facebook, were given a five-year extension to 2020. [52]
The OECD hiked its outlook for the UK economy amid high wage growth, projecting the UK economy expanding by 1.1% in 2024 and 1.2% in 2025, up from May forecasts for 0.4% this year and 1% next year.
In 2015, Country-by-Country Reporting was formally adopted in Action 13 of OECD's final report on Base erosion and profit shifting (OECD project). Under Article 13 of the report, MNEs are required to provide information in a standardized format on their international income and tax allocation to national tax authorities. [3] The OECD initiative ...
Apple's Q1 2015 Irish restructure, post their €13 billion EU tax fine for 2004–2014, is one of the most advanced OECD-compliant BEPS tools in the world. It integrates Irish IP–based BEPS tools, and Jersey Debt–based BEPS tools, to materially amplify the tax sheltering effects, by a factor of circa 2. [136]
The global economy must steer through a precarious recovery this year and next as inflation keeps dragging on household spending and higher interest rates weigh on growth, banks and markets. The ...
Countries need a new international pact to fix a mounting water crisis that could cut economic growth by at least 8% and put half the world's food supplies at risk by 2050, an OECD-backed ...