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

Tax

A new Tax and Duty Manual, Part 38-03-21 has been published by Revenue to address some frequently asked questions on the interpretation of legislation and regulations which implement Country-by-Country (CbC) Reporting in Ireland.  This manual replaces the "Country-by-Country Reporting - some Frequently Asked Questions (FAQs)".  CbC Reporting in Ireland is contained in section 891H of the Taxes Consolidation Act 1997 the Taxes (Country-by-Country Reporting) Regulations 2016.   CbC Reporting requirements apply in Ireland for fiscal years beginning on or after 1 January 2016.   BEPS Action 13 Final Report is the primary OECD/G20 guidance on CbC Reporting.

May 08, 2018
BEPS

The OECD has just published a report entitled Additional Guidance on the Attribution of Profits to Permanent Establishments (BEPS Action 7). According to the OECD, the additional guidance sets out high-level general principles, which countries agree are relevant and applicable in attributing profits to Permanent Establishments (PEs) in accordance with applicable treaty provisions.  It also provides examples on the attribution of profits to certain types of PEs arising from the changes to the PE definition under BEPS Action 7.

Mar 26, 2018
Tax International

The OECD released eight more peer review reports on how jurisdictions are implementing Action 14 minimum standard of the BEPS Project. Action 14 aims to make dispute resolution more timely, effective and efficient. The third round reports relate to implementation measures by the Czech Republic, Denmark, Finland, Korea, Norway, Poland, Singapore and Spain and contain over 215 specific recommendations relating to the minimum standard.

Mar 20, 2018