Over 300 senior tax officials from more than 100 jurisdictions and international organisations met in Paris on 26-27 September 2013 to discuss solutions to unintended double non-taxation caused by base erosion and profit shifting (BEPS). Participants discussed the content of the Action Plan on BEPS released on 19 July 2013 and ways through which developing countries can engage and provide input.
In an opening address to the gathering, Pascal Saint-Amans, Director of OECD's Centre for Tax Policy and Administration, stressed the importance of the work for developing countries, noting that corporate income tax revenue constitutes a substantial part of their total tax revenues. "We need to address BEPS issues in order to maintain and strengthen the existing framework to eliminate double taxation, which is key for cross-border investments. The BEPS project is both exciting and challenging and we can work together to achieve concrete results in the next 18-24 months," he said.
BEPS refers to tax planning strategies that exploit gaps and mismatches in tax rules to make profits ‘disappear' for tax purposes or to shift profits to locations where there is little or no real activity.
Bron: OECD
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