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)”.



The OECD has released additional guidance on the implementation of Country-by-Country (CbC) reporting (BEPS Action 13) which aims to clarify a number of issues for tax administrations and MNE Groups. The additional guidance addresses two specific issues: the definition of total consolidated group revenue and whether non-compliance with the confidentiality, appropriate use and consistency conditions constitutes systemic failure.  The OECD also published a compilation of the approaches adopted by member jurisdictions of the Inclusive Framework with respect to issues where the guidance allows for alternative approaches.  These documents will continue to be updated with any further guidance that may be agreed according to the OECD.

Feb 12, 2018

Officials from Barbados, Côte d’Ivoire, Jamaica, Malaysia, Panama and Tunisia recently signed the BEPS Multilateral Convention bringing the total number of signatories to 78. The Convention updates the existing network of bilateral tax treaties and aims to reduce opportunities for tax avoidance by multinational enterprises according to the OECD.  Algeria, Kazakhstan, Oman and Swaziland have expressed their intent to sign the Convention, and a number of other jurisdictions are actively working towards signature by June 2018. The Convention allows jurisdictions to integrate results from the OECD/G20 BEPS Project into their existing networks of bilateral tax treaties.  Ireland and the UK signed the Convention in June 2017 at the OECD meeting in Paris. 

Feb 05, 2018
Tax International

The OECD has released the first analysis of individual countries' progress in spontaneously exchanging information on tax rulings in accordance with Action 5 of the BEPS package of measures. The first annual report on the exchange of information on rulings evaluates how 44 countries, including all OECD members and all G20 countries, are implementing new minimum standards agreed in the OECD/G20 BEPS Project.  Ireland fulfilled all of its obligations on exchanging information during 2017 and no follow up recommendations were necessary.  The UK met its obligations aside from the fact that new assets of existing taxpayers that benefitted from the grandfathered IP regime was not collected and therefore not exchanged.  

Dec 11, 2017

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