The OECD’s recent release of the Action Plan on Base Erosion and Profit Shifting is an important milestone in its overall project on base erosion and profit shifting (BEPS). The scope of the project and the relative speed with which the OECD has acted highlights the top-down impetus behind the project. It also indicates significant buy-in from political leadership across countries and a consensus on the importance of the issue. All of this underscores the likelihood that the BEPS action plan, and the BEPS project in general, will lead to important changes to the international tax regime.
BEPS and the Law of Unintended Consequences
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