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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).
So, best I can tell, neither the OECD's base erosion and profit shifting work nor the U.S. [TCJA] tax reform, will end the ability of major U.S. companies to reduce their overall tax burden by aggressively shifting profits offshore (and paying between 0 [and] 3 percent on their offshore profits and then being taxed at the GILTI 10.5 percent ...
On 8 October 2021, the EU members Republic of Ireland, Hungary, and Estonia agreed to the OECD plan under the condition that the 15% tax rate will not be raised. [16] The 8 October 2021 statement is called Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy . 137 countries in total ...
OECD iLibrary is OECD’s Online Library for books, papers and statistics and the gateway to OECD's analysis and data. It replaced SourceOECD in July 2010. [1]OECD iLibrary contains content released by Organisation for Economic Co-operation and Development (OECD), International Energy Agency (IEA), Nuclear Energy Agency (NEA), OECD Development Centre, Programme for International Student ...
However, aggressive intragroup pricing – especially for debt and intangibles – has played a major role in corporate tax avoidance, [18] and it was one of the issues identified when the OECD released its base erosion and profit shifting (BEPS) action plan in 2013. [19]
The OECD is responsible for the OECD Guidelines for the Testing of Chemicals, a continuously updated document that is a de facto standard (i.e., soft law). [ 71 ] It published the OECD Environmental Outlook to 2030 in March 2008, which argues that tackling key environmental problems—including climate change , biodiversity loss , water ...
Academic leaders in tax haven research, and other non–governmental organizations, point to the role of OECD and EU tax havens in tax avoidance from base erosion and profit shifting (BEPS) schemes, like the Double Irish, the Single Malt and the Dutch Sandwich. [31] [32] [33] They regard them as major tax havens in their definitions of tax ...