The Organisation for Economic Co-operation and Development
(OECD) on Oct. 5 released its highly anticipated final package on
base erosion and profit shifting (BEPS) measures. The G20 finance
ministers reviewed the findings on Oct. 8.
BEPS refers to the negative effect on countries' tax bases
of multinational companies' tax avoidance strategies. The OECD
estimates that BEPS may be responsible for global corporate income
tax (CIT) revenue losses equaling 4 percent to 10 percent of global
CIT revenues, or nearly $100 billion to $240 billion annually.
The final package of BEPS measures includes 15 action steps. In
the Oct. 5 release, the OECD published 13 final reports and an
"Explanatory Statement" outlining both the achievements
to date and next steps to ensure an efficient implementation of the
agreed-on measures. These final reports include and consolidated
the first seven reports, released on Sept. 16, 2014, and presented
to the G20 in 2014. These holistic final
