BEPS 2014 Deliverables – OECD Releases First Set Of Recommendations

Canada and other members of the Organisation for Economic Co-operation and Development (OECD) and the G-20 are engaged in a project to address "base erosion and profit shifting" (BEPS) strategies used by multinational enterprises (MNEs) and are working to achieve the goals set out in the OECD's Action Plan on Base Erosion and Profit Shifting (Action Plan), which was first announced in July 2013. The Action Plan includes 15 items to address BEPS in a coordinated and comprehensive manner. In the 2014 Canadian federal budget, the federal government reiterated its commitment to continue to improve the integrity of Canada's international tax rules and that it is actively involved in the work of the OECD and the G-20 in this regard. For additional and more detailed comments on Budget 2014, see Economic Action Plan 2014 – International Tax Planning Under Continued Assault.