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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 ...
The OECD G20 Base Erosion and Profit Shifting Project (or BEPS Project) ... where its effective tax rate was 4-6%, saving $2.4 billion from 2002-2012. [43] ...
The United States joined the talks of the OECD/G20 group on (tax-) Base Erosion and Profit Shifting in 2020, and in April 2021, Janet Yellen, the United States Treasury Secretary, agreed with the Franco-German proposal. [12]
The organisation also attempted to limit companies’ ability to shift profits to low-tax locations, a practice known as base erosion and profit shifting (BEPS). [1] [2] The goal of this worldwide exchange of tax information being tax transparency, it requires the exchange of a significant volume of information.
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 initiative was initially considered as utopian [6] and remained unsuccessful, until the Base erosion and profit shifting (OECD project) took it over in the context of combatting tax avoidance. [3] 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 ...
Hines-Rice felt the variations between havens was too material for a single definition, beyond a requirement for low effective tax rates; distortions from profit shifting led them to note proxies, including: the GDP-per-capita proxy, and the corporate profitabity proxy; [11] in June 2018, these tools were used to show that Ireland was the ...
However, their base erosion and profit shifting (BEPS) tools—such as ample opportunities to render income exempt from tax, for instance—enable corporations and non-domiciled investors to achieve de facto tax rates closer to zero, not just in the haven but in all countries with which the haven has tax treaties; thereby putting them on tax ...