Download this Paper Open PDF in Browser

Assessing BEPS: Origins, Standards, and Responses

General Report, in 102A Cahiers de Droit Fiscal International: Assessing BEPS: Origins, Standards, and Responses 17 (Int’l Fiscal Ass’n 2017)

50 Pages Posted: 13 Jul 2017  

Allison Christians

McGill University - Faculty of Law

Stephen E. Shay

Harvard Law School

Date Written: June 15, 2017

Abstract

The G20/OECD’s multi-year campaign to combat base erosion and profit shifting (BEPS) marks a critical step in the evolution of the international tax regime and the roles of institutions that guide it. This General Report for Subject 1, IFA Congress 2017, provides a snapshot of the outcomes of the BEPS project by comparing national responses to key mandates, recommendations and best practices through the end of October, 2016 based on National Reports representing the perspectives of 48 countries. These National Reports reveal that the impact of the BEPS initiative on a particular country corresponds to at least three key factors, namely: (1) the extent to which domestic law is already in substantial compliance with BEPS outcomes; (2) the degree to which implementation of BEPS outcomes appears capable of delivering positive revenue or economic results, or both, relative to a country’s experiences and perceptions prior to BEPS; and (3) the type and degree of involvement of a country in the formative stages of the initiative preceding the release of the final BEPS action plans. As BEPS continues to unfold, it is difficult to gauge the full extent to which countries in fact will adhere or defect from the rules. However, the BEPS project has witnessed the transition of global tax governance from the OECD countries exclusively to global fora. This leaves open questions regarding agenda-setting for international tax policy going forward. As we conclude this interim snapshot of the origins, standards, and responses to BEPS to date, we look to future IFA congresses for answers to these questions and a final assessment of the BEPS project.

Keywords: Anti Tax Avoidance Directive, arbitration and dispute resolution, BEPS, BEPS Associates, best practices, competition, compliance, Cooperation, Country by country reporting, Exchange of rulings, G20, General anti-avoidance rules, Global Forum, harmful tax practices, Inclusive Framework, information e

JEL Classification: D63, D78, F42, H20, H25, H87, K34, K33, O19, O23, P16

Suggested Citation

Christians, Allison and Shay, Stephen E., Assessing BEPS: Origins, Standards, and Responses (June 15, 2017). General Report, in 102A Cahiers de Droit Fiscal International: Assessing BEPS: Origins, Standards, and Responses 17 (Int’l Fiscal Ass’n 2017). Available at SSRN: https://ssrn.com/abstract=2997548

Allison Christians

McGill University - Faculty of Law ( email )

3644 Rue Peel
Montréal, Quebec
Canada

Stephen Shay (Contact Author)

Harvard Law School ( email )

1563 Manssachusetts Avenue
Cambridge, MA 02138
United States

Paper statistics

Downloads
104
Rank
222,258
Abstract Views
285