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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 ...
A conservative estimate has annual tax revenue losses between 100 and US$240 billion (i.e. 4-10% of global revenues from corporate income tax) due to profit shifting around the globe. [6] A study by the Tax Justice Network estimated that around US$660 billion of corporate profits were shifted in 2012. [ 13 ]
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 ...
Base erosion and profit shifting; List of countries by tax rates for a comparison of corporate tax rates around the world, and Tax rates in Europe for just the continent; Corporate haven, a country with low effective tax rates for corporations; World taxation system; International taxation
Base erosion and profit shifting (BEPS) Double Irish; Dutch Sandwich; Single Malt; CAIA; Locations; Tax havens; Corporate havens; Offshore financial centres (OFCs ...
The TJN has reported on the OECD Base erosion and profit shifting (BEPS) projects and conducted their own research that the scale of corporate taxes being avoided by multinationals is an estimated $660 billion in 2012 (a quarter of US multinationals’ gross profits), which is equivalent to 0.9% of World GDP. [4] [5]
The UK Government has pushed the initiative led by the Organisation for Economic Co-operation and Development (OECD) on base erosion and profit shifting. [90] In the 2015 Autumn Statement, Chancellor George Osborne announced that £800m would be spent on tackling tax avoidance in order to recover £5 billion a year by 2019–20.