Global Tax Reform: BEPS and Tax Transparency as Drivers
Insights from KPMG about the potential implications of these drivers on multinational companies
The OECD’s base erosion and profit shifting (BEPS) project responded to growing concerns among OECD and non-OECD countries alike about the risks to tax revenues, tax sovereignty, and tax fairness that BEPS behaviors pose. Intertwined is the call for enhanced transparency of multinational corporations’ global tax footprint. In turn, jurisdictions around the world have embarked on wide-ranging tax reform efforts to address BEPS and transparency issues, including widely adopting country-by-country (CbyC) reporting and signing the multilateral instrument (MLI), creating a significant impact on the global tax landscape.