The OECD is consulting until 23 February 2014 on a draft of revised guidance on transfer pricing documentation and country-by-country reporting as part of action 13 of its action plan on tackling base erosion and profit shifting (BEPS). Responses to the draft will feed into a public consultation to be held in Paris at the end of March. Further consideration will be given to whether information relevant to other aspects of tax administration and the BEPS Action Plan should also be included in the common reporting template.
Broadly what is the origin of this discussion paper and what is the BEPS project?
This paper can be dated back to the G8 Declaration at the June 2013 Leaders’ Summit. The BEPS project is intended to review the operation of international corporate tax and make some changes. This is due to the concerns that current outcomes of tax paid are...
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