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Eversheds comment: Businesses should pay close attention to OECD tax recommendations

  • United Kingdom

    16-09-2014

    On news that tax-avoidance strategies used by companies in the U.S. and Europe are under threat from a plan drawn up by the Organisation for Economic Cooperation and Development (OECD), Ben Jones, partner and tax expert at law firm Eversheds, comments:

    “The ongoing OECD BEPS project has always had the potential to deliver real, fundamental change to the international tax system and the taxation of multinational companies, but the concern often raised has been whether the required international cooperation could be garnered to turn the original idealistic objectives of the project into reality, and whether this can be achieved in a sensible timeframe. The reports issued today by the OECD demonstrate real progress on a number of complex issues, with the confirmation that a multilateral agreement would be developed to implement a number of the changes proposed, meaning that changes could be effected far sooner than anticipated.

    “Multinational businesses will need to pay close attention to the BEPS project as its different elements draw closer to implementation. Many of the proposed changes may require careful consideration of current business structures and potential structural and operational reorganisation to comply with the new systems.”

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