The OECD BEPS Project And CbC Reporting

Stephanie Paiva Sanderson, Corporate Attorney and Chair of the Bermuda Industry/Government Joint Committee on FATCA and CRS provides a useful overview of BEPS and CbC reporting as well as how Bermuda has participated in these regimes.

What is the BEPS Project?

The Base Erosion and Profit Shifting (BEPS) Project has been a major project for the OECD which has been working hard for the past couple of years to progress and promote it globally. The BEPS Project is extensive and comprises 15 Action Points that provide proposals and plans to deter tax planning strategies that shift profits (and intellectual property) or take advantage of loopholes in tax regulations.

The BEPS Project takes aim at various technical issues such as double non-taxation, hybrid mismatches, treaty shopping, and transfer pricing.