Welcome to the Chartered Accountants Ireland BEPS centre

“Base Erosion and Profit Shifting (BEPS) refers to tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations where there is little or no economic activity, resulting in little or no overall corporate tax being paid. BEPS is of major significance for developing countries due to their heavy reliance on corporate income tax, particularly from multinational enterprises (MNEs)”.

OECD

BEPS

Grenada recently joined the Inclusive Framework on BEPS which brings together countries and jurisdictions to collaborate on the implementation of the OECD/ G20 Base Erosion and Profit Shifting (BEPS) Package. Members of the Inclusive Framework on BEPS now total 123 jurisdictions.

Oct 30, 2018
BEPS

While BEPS Action 14 requires jurisdictions to resolve mutual agreement procedure ("MAP") cases within an average timeframe of 24 months, statistics from the OECD show that transfer pricing cases took on average 30 months to resolve across the 85 participating jurisdictions. Transfer pricing cases commenced before 1 January 2016 took on average 35 months to resolve in Ireland; while cases started after 1 January 2016 took on average 12.7 months. The 2017 MAP statistics available for 85 jurisdictions contain detailed information on each jurisdiction as well as aggregated global information.  

Oct 15, 2018
Tax

Over 100 jurisdictions have now concluded negotiations on the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting.  A number of jurisdictions have also expressed their intention to sign the MLI as soon as possible and other jurisdictions are also actively working towards signature according to the OECD.

Oct 01, 2018