“Playtime is over,” said Pascal Saint-Amans, director of the OECD’s Centre for Tax Policy, a month after his organisation’s October 2015 release of the Final Reports of the Action Plan on Base Erosion and Profit Shifting (BEPS).
He was speaking about companies, but in many ways, he could have been addressing national tax authorities. The reports were no small achievement but are far from the final word in the process. Now, legislators and tax officials face the complex task of deciding what the BEPS measures will mean in practice, as they turn the Action Plan’s ambitions into the concrete reality of national regulation.
BEPS is an irreversible reality for companies and a work in progress for governments. As implementation crystallizes what the guidelines actually mean, the thinking of corporate leaders on the process and its likely outcomes is of particular interest. This Euromoney Institutional Investor report, sponsored by the global audit, tax and consulting network, RSM, summarises the results of a large global survey of senior executives about the implications of BEPS for tax standards, the business environment, and respondents’ own companies.