Bill Dodwell provides an update on the Base Erosion and Profit Shifting project
The G20 and OECD’s Base Erosion and Profit Shifting project was put in motion by the G20 in November 2012. The project definition and goals were set out in February 2013 and the fifteen-point Action Plan published in June 2013. The first set of papers came out in September 2014 and the final thirteen papers covering all fifteen actions were published in October 2015 and approved by the G20 leaders in the following month.
What’s happened since?
Perhaps the place to start is the October 2015 Explanatory Statement ‘…estimates indicate that the global corporate income tax revenue losses could be between 4% to 10% of global corporate tax revenues, i.e. $100 to 240 billion annually…’