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By Caroline Goemaere, partner, BEPS Leader, PwC Luxembourg
On 19 July 2013, the OECD issued its much-anticipated Action Plan on Base Erosion and Profit Shifting (“BEPS”), with a view to bringing international economic integration and national taxing rights more closely into line. The 40-page BEPS Action Plan contains 15 separate action points, some of which are further split into specific actions or outputs. The BEPS Action Plan aims to address these issues in a coordinated, comprehensive manner, and was endorsed by the leaders of the “G20” economic grouping in September 2013.
While it may take considerably longer for the impact of these changes to be applied fully in practice, there are indications that the BEPS project and related developments are...
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