imported>Doug Williamson |
imported>Doug Williamson |
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| (BEPS).
| | A form of capital market swap in which at least one of the legs is an equity index or linked with the performance of individual equities. |
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| Tax payer action that reduces the taxable profit in a jurisdiction, either by recharacterising it or by shifting it to a jurisdiction where it will be taxed at a lower rate or not taxed at all. This is seen by tax authorities as potentially abusive, even if legal.
| | == See also == |
| | | * [[Index]] |
| Action Plan on Base Erosion and Profit Shifting is a 2013 report from the Organisation for Economic Co-operation and Development ([[OECD]]). The outline Action Plan proposals were endorsed by the [[G20]] during their summit in St. Petersburg in 2013.
| | * [[Swap]] |
| | | * [[Equity]] |
| The OECD report notes:
| | * [[Debt for equity swap]] |
| * that modern business practices, the growing importance of the services and 'digital' components of the economy mean that many businesses are geographically distant from their customers and
| | * [[Contract for differences]] |
| * "the increasing sophistication of tax planners in identifying and exploiting the legal arbitrage opportunities and the boundaries of acceptable tax planning".
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| These, the report says, provide multinational enterprises (MNEs) with more confidence in taking aggressive tax positions giving opportunities for the MNEs to greatly minimise their tax burden.
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| "The increasing BEPS relates chiefly to instances where the interaction of different tax rules leads to double non-taxation or less than single taxation. It also relates to arrangements that achieve no or low taxation by shifting profits away from the jurisdictions where the activities creating those profits take place."
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| ==See also== | |
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| * [[Common Consolidated Corporate Tax Base]] | |
| * [[Corporation Tax]] | |
| * [[Diverted profits tax]] | |
| * [[Fixed-ratio method]] | |
| * [[Worldwide interest cap]] | |
| * [[Tax avoidance]]
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| * [[Transfer pricing]]
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| * [[Double taxation]]
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| ===Other links===
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| * [http://dx.doi.org/10.1787/9789264202719-en Action Plan on Base Erosion and Profit Shifting, OECD Publishing, OECD 2013]
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| [[Category:Accounting,_tax_and_regulation]]
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