TAX OFFICIALS LAY TECHNICAL GROUNDWORK FOR REALISING GRAND BEPS AND COUNTRY REPORTING SCHEMES
May 1st, 2016
THE PRINCIPLES of preventing multinationals shifting profits to low tax jurisdictions and hiding revenues through opaque and complex company structures have been welcomed, and have grabbed big headlines.
But the ability of tax administrations to achieve these goals, in cooperation with accountants and auditors, will depend on detailed and transparent reporting systems, that enable tax offices to swap reports on multiple revenue flows that cross national borders.
It was this nitty gritty – the engine of international financial reporting – that was the focus ...
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