The measure
As part of Budget 2014, the UK government has published a paper
that outlines the UK's priorities for the international Base
Erosion and Profit Shifting (BEPS) project
The G20 asked the Organisation for Economic Co-operation and
Development (OECD) to reform the international tax rules (some of
which were written in the 1920s), to ensure that the taxation of
international businesses is in line with where value is created and
to prevent tax avoidance.
The OECD and G20 published an Action Plan in July 2013 setting
out 15 actions to reform and update the international tax
system. The outcomes from the first tranche of work will be
published in September 2014, with the remainder being finalised in
2015. The paper sets out that some discussion drafts have already
been released (and others are expected imminently) for September
2014 actions relating to:
