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OECD BEPS package response
The CBI has responded to the OECD Base Erosion and Profit Shifting (BEPS) reform package announcement.
Rain Newton-Smith, CBI Director for Economics, said:
“The CBI has supported the OECD BEPS project since its inception as we recognise the need for updating international tax rules.
“The OECD remains the right forum for this review and we look forward to its continued involvement in its implementation around the world.
“These measures should now be fully assessed at a national level, with governments working together to implement them into domestic law and the key to success being consistency across borders.
“The co-operation of Governments to put in place an effective, efficient and timely inter-country dispute resolution mechanism is now essential, as it is currently absent from the international tax environment.
“Our tax system should address Base Erosion and Profit Shifting activity as well as the risk of double taxation while signalling that the UK remains open to business and investment to create jobs, drive sustainable growth and public finances.”
