The big news this month has been the much anticipated publication by the OECD of the first seven deliverables in the BEPS action plan. In the UK, draft legislation to implement the EU Accounting Directive, which introduces country by country reporting for the extractive industry, has been published. Overseas, in India the promised committee to review fresh cases involving indirect transfer of assets has now been established; in Canada, a very large package of tax legislation has been published, but anti-treaty shopping proposals have been put on hold; and in China, new reporting requirements on outbound investment have begun.
