The ‘platform for collaboration on tax’, a joint initiative of the IMF, OECD, UN and World Bank Group, has published for comment a revised version of its report on the taxation of offshore indirect transfers of assets. The revised report is a follow-up to the first report published in August 2017, taking account of the feedback received, with some new questions for consideration.
Such transfers involve the sale of an entity that owns an ‘immovable’ asset located in a different country, by a non-resident of the country where the asset is located. The tax treatment of these transfers was not addressed by the BEPS project, but is a significant concern in many developing countries and has become a relatively common practice among multinational corporations.
The report is one of several ‘toolkits’ the platform for collaboration on tax is developing at the request of the G20, to help guide policy in developing countries.
The ‘platform for collaboration on tax’, a joint initiative of the IMF, OECD, UN and World Bank Group, has published for comment a revised version of its report on the taxation of offshore indirect transfers of assets. The revised report is a follow-up to the first report published in August 2017, taking account of the feedback received, with some new questions for consideration.
Such transfers involve the sale of an entity that owns an ‘immovable’ asset located in a different country, by a non-resident of the country where the asset is located. The tax treatment of these transfers was not addressed by the BEPS project, but is a significant concern in many developing countries and has become a relatively common practice among multinational corporations.
The report is one of several ‘toolkits’ the platform for collaboration on tax is developing at the request of the G20, to help guide policy in developing countries.
