The BEPS project is intended to tackle fundamental questions at the heart of international taxation but it is more likely to result in a series of sticking plaster measures than a root and branch reform writes Mike Lane.
Brad a US citizen comes up with a new idea and sets up BradCorp in the US to exploit it. Before anyone knows whether it is a good idea or not BradCorp sells the rights to exploit the idea in Europe to a Dutch subsidiary BradIP. It turns out the idea is actually a very good one so BradUK acquires a licence from BradIP to exploit the idea in the UK.
BradUK is a clear success story but some people are upset...
