The Organisation for Economic Co-operation and Development (OECD), together with a group of more than 130 countries, are working on rewriting the rules of the international corporate income tax system.
The changes are far more fundamental than BEPS, and are probably the most significant tax changes in the last 60 years. The proliferation of unilateral measures targeting interaction between “users” and businesses (e.g., Digital Services Taxes) has heightened the urgency among policymakers to reach agreement on these fundamental multilateral reforms. There is a desire from many large countries (and a commitment from the G20) to reach agreement swiftly.
Taxpayers will want to analyse the potential impact on their businesses. Taxpayers may also want to make their views known to the OECD and national governments as the project moves forward in an effort to achieve a stable and sustainable consensus agreement.
The critical elements of the current proposals are:
See more detail on the OECD’s latest proposals by following this link.
There will be significant implications across business areas that organisations need to start preparing for now.
Preparing for these changes will require a proactive approach, co-ordinating stakeholders from across tax teams and the C-Suite to raise awareness of any implications and minimise risk to business objectives. Our highly experienced interdisciplinary team understand the technical and political issues surrounding the discussions on the overhaul of the corporate tax system. We can help you prepare with our integrated approach.
We use our professional and technical expertise and insight to explain what the changes could mean for your business.
We can help you assess the concrete impact of the reform with two straightforward and simple tools to build a strong foundation for your preparation planning.
We work with clients to develop an interaction plan with both their stakeholders to respond proactively to changes and developments.
Partner, PwC United Kingdom
Tel: +44 (0)7793 580784
Transfer Pricing, United Kingdom
Global Tax Policy, PwC United Kingdom
Tel: +44 797 341 4521
Director, PwC United Kingdom
Global Financial Services Transfer Pricing Leader
Tel: +44 (20) 7212 8830