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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 ]
Other tax experts, including a founder of academic tax haven research, James R. Hines Jr., note that U.S. multinational use of BEPS tools and corporate tax havens had actually increased the long–term tax receipts of the U.S. Treasury, at the expense of other higher–tax jurisdictions, making the U.S a major beneficiary of BEPS tools and ...
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 ...
After years of stalled negotiations on global tax issues hosted by the Paris based-Organization for Economic Cooperation and Development (OECD) to end competitive reductions in corporate tax rates ...
"Tax mitigation", "tax aggressive", "aggressive tax avoidance" or "tax neutral" schemes generally refer to multiterritory schemes that fall into the grey area between common and well-accepted tax avoidance, such as purchasing municipal bonds in the United States, and tax evasion but are widely viewed as unethical, especially if they are ...
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The effort morphed into a declaration by G20 countries to work together to ensure that the ultra-rich are effectively taxed, in a move that seeks a balance between national sovereignty and more ...