应对税基侵蚀和利润转移

:HSTCQE=VW[ZW:isbn9789264192652232013151PAddrssingbasErosionandProfitshiftingContntsExcutisummaryChaptr1.IntroductionChaptr2.HowbigaproblmisBEPS?AnoriwofthaailabldataChaptr3.Globalbusinssmodls,comptitinss,corporatgornancandtaxationChaptr4.KytaxprinciplsandopportunitisforbasrosionandprofitshiftingChaptr5.AddrssingconcrnsrlatdtobasrosionandprofitshiftingAnnxA.DataoncorporattaxrnuasprcntagofGDPAnnxB.AriwofrcntstudisrlatingtoBEPSAnnxC.ExamplsofthtaxplanningstructursofmultinationalntrprissAnnxD.CurrntandpastOECDworkrlatdtobasrosionandprofitshiftingAddrssingbasErosionandProfitshiftingAddrssingbasErosionandProfitshiftingConsultthispublicationonlinathttp:dx.doi.org10.17879789264192744n.ThisworkispublishdonthOECDiLibrary,whichgathrsallOECDbooks,priodicalsandstatisticaldatabass.Visitwww.ocdilibrary.orgformorinformation.AddrssingBasErosionandProfitShiftingThisworkispublishdonthrsponsibilityofthScrtaryGnralofthOECD.ThopinionsxprssdandargumntsmploydhrindonotncssarilyrflctthofficialiwsofthOrganisationorofthgornmntsofitsmmbrcountris.Thisdocumntandanymapincluddhrinarwithoutprjudictothstatusoforsorigntyoranytrritory,tothdlimitationofintrnationalfrontirsandboundarisandtothnamofanytrritory,cityorara.ISBN9789264192652(print)ISBN9789264192744(PDF)ThstatisticaldataforIsralarsupplidbyandundrthrsponsibilityofthrlantIsraliauthoritis.ThusofsuchdatabythOECDiswithoutprjudictothstatusofthGolanHights,EastJrusalmandIsralisttlmntsinthWstBankundrthtrmsofintrnationallaw.Photocrdit:Cor©JohnGollopiStockPhoto.CorrigndatoOECDpublicationsmaybfoundonlinat:www.ocd.orgpublishingcorrignda.©OECD2013Youcancopy,downloadorprintOECDcontntforyourownus,andyoucanincludxcrptsfromOECDpublications,databassandmultimdiaproductsinyourowndocumnts,prsntations,blogs,wbsitsandtachingmatrials,proiddthatsuitablacknowldgmntofOECDassourcandcopyrightownrisgin.Allrqustsforpublicorcommrcialusandtranslationrightsshouldbsubmittdtorights@ocd.orgRqustsforprmissiontophotocopyportionsofthismatrialforpublicorcommrcialusshallbaddrssddirctlytothCopyrightClarancCntr(CCC)atinfo@copyright.comorthCntrfrançaisd’xploitationdudroitdcopi(CFC)atcontact@cfcopis.com.Plascitthispublicationas:OECD(2013),AddrssingBasErosionandProfitShifting,OECDPublishing.http:dx.doi.org10.17879789264192744nADDRESSINGBASEEROSIONANDPROFITSHIFTING©OECD2013TABLEOFCONTENTS–3TablofcontntsExcutisummary.5Chaptr1.Introduction13Chaptr2.HowbigaproblmisBEPS?Anoriwofthaailabldata..15Dataoncorporatincomtaxrnus..15DataonForignDirctInstmnts..17AriwofrcntstudisrlatingtoBEPS..18Chaptr3.Globalbusinssmodls,comptitinss,corporatgornancandtaxation25Globalbusinssmodlsandtaxation.25Comptitinssandtaxation28Corporatgornancandtaxation..30Chaptr4.Kytaxprinciplsandopportunitisforbasrosionandprofitshifting.33Kyprinciplsforthtaxationofcrossbordractiitis33KyprinciplsandBEPSopportunitis..39Chaptr5.Addrssingconcrnsrlatdtobasrosionandprofitshifting..47Kyprssuraras47Nxtstps.48DlopingaglobalactionplantoaddrssBEPS51Immdiatactionfromourtaxadministrationsisalsondd..53Bibliography55AnnxA.DataoncorporattaxrnuasaprcntagofGDP.57ADDRESSINGBASEEROSIONANDPROFITSHIFTING©OECD20134–TABLEOFCONTENTSAnnxB.AriwofrcntstudisrlatingtoBEPS..61StudisofffctitaxratsofMNEs..61Studisusingdatafromtaxpayrrturns63Othranalyssofprofitshifting.65Bibliography..69AnnxC.ExamplsofMNEs’taxplanningstructurs.73Ecommrcstructurusingatwotirdstructurandtransfrofintangiblsundracostcontributionarrangmnt..74Transfrofmanufacturingoprationstogthrwithatransfrofsupportingintangiblsundracostcontributionarrangmnt..76Lragdacquisitionwithdbtpushdownandusofintrmdiatholdingcompanis.79AnnxD.CurrntandpastOECDworkrlatdtobasrosionandprofitshifting.83Taxtransparncy.83Taxtratis84Transfrpricing..84Aggrssitaxplanning..85Harmfultaxpractics.85Taxpolicyanalyssandstatistics.85Taxadministration86Taxanddlopmnt.86FigursFigur2.1TaxsoncorporatincomasaprcntagofGDP16Figur3.1Asimplifidrprsntationofaglobalaluchain26Figur3.2IndxofthrlatilngthofGlobalValuChains,worldarag,slctdindustris,2008..27FigurC.1GroupA’staxplanningstructur..74FigurC.2GroupA’staxplanningstructur..77FigurC.3Lragdacquisition..79TablTablA.1Corporattaxrnu,%ofGDP,19902011.58BoxsBox2.1Statutorycorporatincomtaxratsrsusffcticorporatincomtaxrats19BoxD.1BEPSanddlopingcountris87ADDRESSINGBASEEROSIONANDPROFITSHIFTING©OECD2013EXECUTIVESUMMARY–5ExcutisummaryBasrosionconstitutsasriousrisktotaxrnus,taxsorigntyandtaxfairnssforOECDmmbrcountrisandnonmmbrsalik.Whilthrarmanywaysinwhichdomstictaxbasscanbrodd,asignificantsourcofbasrosionisprofitshifting.Whilstfurthrworkonthdatarlatdtobasrosionandprofitshifting(BEPS)isimportantandncssary,thrisnoqustionthatBEPSisaprssingandcurrntissuforanumbrofjurisdictions.Inthiscontxt,thG20haswlcomdthworkthatthOECDisundrtakinginthisaraandhasrqustdarportaboutprogrssofthworkforthirFbruary2013mting.Whilthrclarlyisataxcompliancaspct,asshownbyanumbrofhighprofilcass,thrisamorfundamntalpolicyissu:thintrnationalcommonprinciplsdrawnfromnationalxprincstoshartaxjurisdictionmaynothakptpacwiththchangingbusinssnironmnt.Domsticrulsforintrnationaltaxationandintrnationallyagrdstandardsarstillgrounddinanconomicnironmntcharactrisdbyalowrdgrofconomicintgrationacrossbordrs,rathrthantoday’snironmntofglobaltaxpayrs,charactrisdbythincrasingimportancofintllctualproprtyasaaludrirandbyconstantdlopmntsofinformationandcommunicationtchnologis.Earlyonitwasrcognisdthatthintractionofdomstictaxsystmscanladtoorlapsinthxrcisoftaxingrightsthatcanrsultindoubltaxation.Domsticandintrnationalrulstoaddrssdoubltaxation,manyofwhichoriginatdwithprinciplsdlopdbythLaguofNationsinth1920s,aimataddrssingthsorlapssoastominimistraddistortionsandimpdimntstosustainablconomicgrowth.Thintractionofdomstictaxsystms(includingrulsadoptdinaccordancwithintrnationalstandardstorlidoubltaxation),howr,canalsoladtogapsthatproidopportunitistoliminatorsignificantlyrductaxationonincominamannrthatisinconsistntwiththpolicyobjctisofsuchdomstictaxrulsandintrnationalstandards.Whilmultinationalcorporationsurgcooprationinthdlopmntofintrnationalstandardstoalliatdoubltaxationrsultingfromdiffrncsindomstictaxruls,thyoftnxploitdiffrncsindomstictaxrulsandintrnationalADDRESSINGBASEEROSIONANDPROFITSHIFTING©OECD20136–EXECUTIVESUMMARYstandardsthatproidopportunitistoliminatorsignificantlyrductaxation.ThisrportaimstoprsntthissusrlatdtoBEPSinanobjctiandcomprhnsimannr.ThrportfirstdscribsstudisanddataaailablinthpublicdomainrgardingthxistncandmagnitudofBEPS(summarisofthstudisarincluddinAnnxB).Itthncontainsanoriwofglobaldlopmntsthathaanimpactoncorporattaxmattrs.Thcorofthrportstsoutanoriwofthkyprinciplsthatundrlithtaxationofcrossbordractiitis,aswllasthBEPSopportunitisthsprinciplsmaycrat.Italsoanalysssomwllknowncorporatstructurs(dscribdinmordtailinAnnxC)andhighlightsthmostimportantissusthatthsstructursrais.Thrportconcludsthat,inadditiontoandforincrasdtransparncyonffctitaxratsofMNEs,kyprssurarasincludthosrlatdto:‡�Intrnationalmismatchsinntityandinstrumntcharactrisationincluding,hybridmismatcharrangmntsandarbitrag;‡�Applicationoftratyconcptstoprofitsdridfromthdliryofdigitalgoodsandsrics;‡�Thtaxtratmntofrlatdpartydbtfinancing,captiinsurancandothrintragroupfinancialtransactions;‡�Transfrpricing,inparticularinrlationtothshiftingofrisksandintangibls,thartificialsplittingofownrshipofasstsbtwnlgalntitiswithinagroup,andtransactionsbtwnsuchntitisthatwouldrarlytakplacbtwnindpndnts;‡�Thffctinssofantiaoidancmasurs,inparticularGAARs,CFCrgims,thincapitalisationrulsandrulstoprnttaxtratyabus;‡�Thaailabilityofharmfulprfrntialrgims.Anumbrofindicatorsshowthatthtaxpracticsofsommultinationalcompanishabcommoraggrssiortim,raisingsriouscompliancandfairnssissus.Thsissuswralradyflaggdbytaxcommissionrsatth2006mtingofthForumonTaxAdministrationinSoulanddiffrntinstrumntshabndlopdtobttranalysandracttoaggrssitaxplanningschmswhichrsultinmassirnulosss.ThOECDworkonaggrssitaxplanning,includingitsdirctoryofaggrssitaxplanningschms,isbingusdbygornmntofficialsfromsralcountris.Somcountrisarintnsilydrawingonthisworktoimprothirauditprformanc.Improingtaxcomplianc,onshorandADDRESSINGBASEEROSIONANDPROFITSHIFTING©OECD2013EXECUTIVESUMMARY–7offshor,rmainsakypriorityforbothscuringgornmnts’rnuandlllingthplayingfildforbusinsss.Itrquirsdtrmindactionfromtaxadministrations,whichshouldcoopratinxchangingintlligncandinformation,aswllasmonitoringthffctinssofthstratgisusd,forxamplintrmsofadditionaltaxrnuassssdcollctd,andintrmsofnhancdcomplianc.Thisrportalsoshowsthatcurrntintrnationaltaxstandardsmaynothakptpacwithchangsinglobalbusinsspractics,inparticularintharaofintangiblsandthdlopmntofthdigitalconomy.Forxampl,todayitispossibltobhailyinoldinthconomiclifofanothrcountry,.g.bydoingbusinsswithcustomrslocatdinthatcountryiathintrnt,withouthaingataxablprsncthrorinanothrcountrythatlistaxonprofits.Inanrawhrnonrsidnttaxpayrscandrisubstantialprofitsfromtransactingwithcustomrslocatdinanothrcountry,qustionsarbingraisdonwhthrthcurrntrulsarfitforpurpos.Furthr,asbusinsssincrasinglyintgratacrossbordrsandtaxrulsoftnrmainuncoordinatd,thraranumbrofstructurs,tchnicallylgal,whichtakadantagofasymmtrisindomsticandintrnationaltaxruls.ThOECDhasalradyproducdanalyticalworktobttrundrstandandracttothissuofhybridmismatcharrangmntsthroughwhichtaxablincominffctdisappars(HybridMismatchArrangmnts:PolicyandCompliancIssus,2012).Workhasalsobnlaunchdtoaddrsssomofthnwchallngs.ProposalstoupdatthOECD’stransfrpricingguidlinsintharaofintangiblsandtosimplifythirapplicationhabntabldandshouldbadancdquicklytoproidimmdiatrsponsstosomofthmostcriticalprofitshiftingchallngs.Simplificationshouldalsonsurthattaxadministrationshaaccsstobttrtoolsforassssingtaxcompliancrisks.Thisinolsthdlopmntofdocumntationrquirmntsabltoproidtaxauditorswiththfullpicturofbusinssoprations.Inthrcntpast,thOECDalsoidntifidanumbrofanustobttrasssstaxcompliancrisks,suchasthosdscribdinTacklingAggrssiTaxPlanningthroughImprodTransparncyandDisclosur(OECD,2011).Finally,majorprogrsstowardstransparncyhasbnachidorthpastfouryarswiththstablishmntofthGlobalForumonTransparncyandExchangofInformationforTaxPurposs.Morfundamntally,aholisticapproachisncssarytoproprlyaddrssthissuofBEPS.Gornmntactionsshouldbcomprhnsianddalwithallthdiffrntaspctsofthissu.Thsinclud,forxampl,thbalancbtwnsourcandrsidnctaxation,thtaxtratmntofintragroupfinancialtransactions,thimplmntationofantiabusproisions,includingCFClgislation,aswllastransfrpricingruls.AcomprhnsiADDRESSINGBASEEROSIONANDPROFITSHIFTING©OECD20138–EXECUTIVESUMMARYapproach,globallysupportd,shoulddrawonanindpthanalysisofthintractionofallthsprssurpoints.Itisclarthatcoordinationwillbkyinthimplmntationofanysolution,thoughcountrismaynotallusthsaminstrumntstoaddrssthissuofBEPS.Whatisatstakisthintgrityofthcorporatincomtax.Alackofrsponswouldfurthrundrmincomptition,assombusinsss,suchasthoswhichopratcrossbordrandhaaccsstosophisticatdtaxxprtis,mayprofitfromBEPSopportunitisandthrforhaunintnddcomptitiadantagscompardwithntrprissthatopratmostlyatthdomsticll.Inadditiontoissusoffairnss,thismayladtoaninfficintallocationofrsourcsbydistortinginstmntdcisionstowardsactiitisthathalowrprtaxratsofrturn,buthighraftrtaxratsofrturn.Finally,ifothrtaxpayrs(includingordinaryindiiduals)thinkthatmultinationalcorporationscanlgallyaoidpayingincomtaxitwillundrminoluntarycompliancbyalltaxpayrs–uponwhichmodrntaxadministrationdpnds.BcausmanyBEPSstratgistakadantagofthintrfacbtwnthtaxrulsofdiffrntcountris,itmaybdifficultforanysinglcountry,actingalon,tofullyaddrssthissu.Furthrmorunilatralanduncoordinatdactionsbygornmntsrspondinginisolationcouldrsultinthriskofdoubl–andpossiblymultipl–taxationforbusinss.Thiswouldhaangatiimpactoninstmnt,andthusongrowthandmploymntglobally.Inthiscontxt,thmajorchallngisnotonlytoidntifyappropriatrsponss,butalsothmchanismstoimplmntthminastramlindmannr,inspitofthwllknownxistinglgalconstraints,suchasthxistncofmorthan3000bilatraltaxtratis.Itisthrforssntialthatcountrisconsidrinnoatiapproachstoimplmntcomprhnsisolutions.DlopingaglobalactionplantoaddrssbpsAcomprhnsiactionplanInordrtoaddrssbasrosionandprofitshifting,whichisfundamntallydutoalargnumbrofintractingfactors,acomprhnsiactionplanshouldbdlopdquickly.Thmainpurposofthatplanwouldbtoproidcountriswithinstrumnts,domsticandintrnational,aimingatbttraligningrightstotaxwithralconomicactiity.Whilitisusfultotakstockofthworkwhichhasalradybndonandwhichisundrway,itisalsoimportanttorisitsomofthfundamntalsofthxistingstandards.Indd,incrmntalapproachsmayhlpcurbthcurrnttrndsbutwillnotrspondtosralofthchallngsgornmntsfac.ADDRESSINGBASEEROSIONANDPROFITSHIFTING©OECD2013EXECUTIVESUMMARY–9Thoughgornmntsmayhatoproidunilatralsolutions,thrisaluandncssityinproidinganintrnationallycoordinatdapproach.Collaborationandcoordinationwillnotonlyfacilitatandrinforcdomsticactionstoprotcttaxbass,butwillalsobkytoproidcomprhnsiintrnationalsolutionsthatmaysatisfactorilyrspondtothissu.Coordinationinthatrspctwillalsolimitthndforindiidualjurisdictions’unilatraltaxmasurs.Ofcours,jurisdictionsmayalsoproidmorstringntunilatralactionstoprntBEPSthanthosinthcoordinatdapproach.ThOECDiscommittdtodliringaglobalandcomprhnsiactionplanbasdonindpthanalysisofthidntifidprssuraraswithaiwtoproidconcrtsolutionstoralignintrnationalstandardswiththcurrntglobalbusinssnironmnt.Thiswillrquirsom“outofthbox”thinkingaswllasambitionandpragmatismtoorcomimplmntationdifficultis,suchasthxistncofcurrnttaxtratis.Inthmanwhil,currntworkwillnaturallybspddupwhrrlanttoBEPS.TimlydlopdinconsultationwithallstakholdrsAcomprhnsisolutioncannotbdlopdwithoutthcontributionofallstakholdrs.Allintrstdmmbrcountriswillhatobinoldinthdlopmntofthactionplanandnonmmbrcountris,inparticularG20conomis,willhatocontributaswll.Consultationwiththbusinsscommunity,aswllasciilsocity,shouldborganisdsothatthiwsofpractitionrsandothrstakholdrscanbtaknintoaccountandtoproidbusinssswiththcrtaintythyndtomaklongtrminstmntdcisions.ThrisanurgntndtodalwiththisissuandthOECDiscommittdtoproidaninnoatiandtimlyrsponstoit.ItisproposdthataninitialcomprhnsiactionplanbdlopdwithinthnxtsixmonthssothatthCommittonFiscalAffairscanagritatitsnxtmtinginJun2013.Suchanactionplanshould(i)idntifyactionsnddtoaddrssBEPS,(ii)stdadlinstoimplmntthsactionsand(iii)idntifythrsourcsnddandthmthodologytoimplmntthsactions.Todlopsuchaplan,thCFAhasginamandattothCFABurautogthrwiththchairsofthrlantworkinggroups,toworkwiththOECDScrtariat,inconsultationwithintrstdcountrisandothrstakholdrs.ThCFABurauandthchairsofthworkingpartiswillcallonaailablxprtisthroughasrisofphysicalorirtualmtingsandwillmonitorthworksothatadraftactionplancanbsubmittdtothCFAintimforittobdiscussdandapprodatitsJun2013mting.ADDRESSINGBASEEROSIONANDPROFITSHIFTING©OECD201310–EXECUTIVESUMMARYFocusingonthmainprssurarasOnsubstanc,thdlopmntofthactionplanshouldproidacomprhnsirsponsthattaksintoaccountthlinksbtwnthdiffrntprssuraras.Moror,bttrinformationanddataonBEPSwillbsought.Thdiffrntcomponntsofthactionplanwillincludproposalstodlop:‡�Instrumntstoputanndtoornutralisthffctsofhybridmismatcharrangmntsandarbitrag.‡�Impromntsorclarificationstotransfrpricingrulstoaddrssspcificaraswhrthcurrntrulsproducundsirablrsultsfromapolicyprspcti.Thcurrntworkonintangibls,whichisaparticulararaofconcrn,wouldbincluddinabroadrrflctionontransfrpricingruls.‡�Updatdsolutionstothissusrlatdtojurisdictiontotax,inparticularintharasofdigitalgoodsandsrics.Thssolutionsmayincludarisionoftratyproisions.‡�Morffctiantiaoidancmasurs,asacomplmnttothpriousitms.Antiaoidancmasurscanbincluddindomsticlawsorincluddinintrnationalinstrumnts.ExamplsofthsmasursincludGnralAntiAoidancRuls,ControlldForignCompanisruls,Limitationofbnfitsrulsandothrantitratyabusproisions.‡�Rulsonthtratmntofintragroupfinancialtransactions,suchasthosrlatdtothdductibilityofpaymntsandthapplicationofwithholdingtaxs.‡�Solutionstocountrharmfulrgimsmorffctily,takingintoaccountfactorssuchastransparncyandsubstanc.Thactionplanwillalsoconsidrthbstwaytoimplmntinatimlyfashionthmasursgornmntscanagrupon.Iftratychangsarrquird,solutionsforaquickimplmntationofthschangsshouldbxamindandproposdaswll.OECDhasdlopdstandardstoliminatdoubltaxationandshouldnsurthatthisgoalisachidwhilffortsardploydtoalsoprntdoublnontaxation.Inthisrspct,acomprhnsiapproachshouldalsoconsidrpossiblimpromntstoliminatdoubltaxation,suchasincrasdfficincyofmutualagrmntprocdursandarbitrationproisions.ADDRESSINGBASEEROSIONANDPROFITSHIFTING©OECD2013EXECUTIVESUMMARY–11ImmdiatactionfromourtaxadministrationsisalsonddThForumonTaxAdministrationgathrsthTaxCommissionrsofallOECDandG20countris.ThForumwillmtinMoscowinMay2013.ItisxpctdthatthTaxCommissionrswillfocusonandcommunicatonthiractionstoimprotaxcomplianc,whichisaprrquisitforafairtaxnironmnt.ThyarinitdinparticulartodrawonthworkdlopdbythOECDintharaofaggrssitaxplanning,withmorthan400schmsincluddinthaggrssitaxplanningdirctory.Finally,itisrcommnddthatthisrportbshardwiththG20inrsponstothircallinNombr2012inMxicoforarportatthirnxtmtinginFbruaryinMoscow.ADDRESSINGBASEEROSIONANDPROFITSHIFTING©OECD20131.INTRODUCTION–13Chaptr1IntroductionThrisagrowingprcptionthatgornmntslossubstantialcorporattaxrnubcausofplanningaimdatshiftingprofitsinwaysthatrodthtaxablbastolocationswhrthyarsubjcttoamorfaourabltaxtratmnt.RcntnwsstorissuchasBloombrg’s“ThGratCorporatTaxDodg”,thNwYorkTims’“ButNobodyPaysThat”,ThTims’“ScrtsofTaxAoidrs”andthGuardian’s“TaxGap”aronlysomxamplsofthincrasdattntionmainstrammdiahasbnpayingtocorporattaxaffairs.Ciilsocityandnongornmntalorganisations(NGOs)haalsobnocalinthisrspct,somtimsaddrssingrycomplxtaxissusinasimplisticmannrandpointingfingrsattransfrpricingrulsbasdontharm’slngthprinciplasthcausofthsproblms.Thisincrasdattntionandthinhrntchallngofdalingcomprhnsilywithsuchacomplxsubjcthasncouragdaprcptionthatthdomsticandintrnationalrulsonthtaxationofcrossbordrprofitsarnowbroknandthattaxsaronlypaidbythnai.Multinationalntrpriss(MNEs)arbingaccusdofdodgingtaxsworldwid,andinparticularindlopingcountris,whrtaxrnuiscriticaltofostrlongtrmdlopmnt.Businssladrsoftnarguthatthyhaarsponsibilitytowardsthirsharholdrstolgallyrducthtaxsthircompanispay.Somofthmmightconsidrmostofthaccusationsunjustifid,insomcassdminggornmntsrsponsiblforincohrnttaxpolicisandfordsigningtaxsystmsthatproidincntisforBasErosionandProfitShifting(BEPS).ThyalsopointoutthatMNEsarstillsomtimsfacdwithdoubltaxationonthirprofitsfromcrossbordractiitis,withmutualagrmntprocdurssomtimsunabltorsoldisputsamonggornmntsinatimlymannroratall.ADDRESSINGBASEEROSIONANDPROFITSHIFTING©OECD201314–1.INTRODUCTIONThdbatorBEPShasalsorachdthpoliticalllandhasbcomanissuonthagndaofsralOECDandnonOECDcountris.ThG20ladrsmtinginMxicoon1819Jun2012xplicitlyrfrrdto“thndtoprntbasrosionandprofitshifting”inthirfinalDclaration.ThismssagwasritratdatthG20financministrsmtingof56Nombr2012,thfinalcommuniquéofwhichstats:“WalsowlcomthworkthatthOECDisundrtakingintothproblmofbasrosionandprofitshiftingandlookforwardtoarportaboutprogrssofthworkatournxtmting”.OnthmarginsofthG20mtinginNombr2012,thUnitdKingdom’sChancllorofthExchqur,GorgOsborn,andGrmany’sMinistrofFinanc,WolfgangSchäubl,issudajointstatmnt,whichhassincthnbnjoindbyFranc’sEconomyandFinancMinistr,PirrMoscoici,callingforcoordinatdactiontostrngthnintrnationaltaxstandardsandurgingthircountrpartstobackffortsbythOECDtoidntifypossiblgapsintaxlaws.SuchaconcrnwasalsooicdbyUSPrsidntObamainthPrsidnt’sFramworkforBusinssTaxRform,whichstatsthat“mpiricalidncsuggststhatincomshiftingbhaiourbymultinationalcorporationsisasignificantconcrnthatshouldbaddrssdthroughtaxrform”.BEPSisalsorlatdtothOECDwidrflctionon“NwApproachstoEconomicChallngs”,whosaimistorspondtothcallbysralcountrisforsucharflction,tolarnthlssonsfromthcrisisanddriitspolicyimplications,andtobuildamorsolidpathforconomicgrowthandwllbing.1ThisrportaimsatprsntingthissusrlatdtoBEPSinanobjctiandcomprhnsimannr.ThrportfirstdscribsstudisanddataaailablinthpublicdomainrgardingthxistncandmagnitudofBEPS(summarisofthstudisarincluddinAnnxB).Itthncontainsanoriwofg