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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).
Base erosion and profit shifting (BEPS) refers to corporate tax planning strategies used by multinationals to "shift" profits from higher-tax jurisdictions to lower-tax jurisdictions or no-tax locations where there is little or no economic activity, thus "eroding" the "tax-base" of the higher-tax jurisdictions using deductible payments such as ...
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 ...
The Organisation for Economic Co-operation and Development (OECD; French: Organisation de coopération et de développement économiques, OCDE) is an intergovernmental organization with 38 member countries, [1] [4] founded in 1961 to stimulate economic progress and world trade.
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]
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 ...
At the 2012 G20 Los Cabos summit, it was agreed that the OECD undertake a project to combat base erosion and profit shifting (BEPS) activities by corporates. An OECD BEPS Multilateral Instrument , consisting of "15 Actions" designed to be implemented domestically and through bilateral tax treaty provisions, was agreed upon at the 2015 G20 ...