Luxembourg International PwC Sites Home Industries Challenges Services Media Centre About Us / Careers PwC's Accelerator PwC's Academy Base Erosion and Profit Shifting Challenges and Opportunities With concerns over base erosion and profit shifting (BEPS) having reached the highest levels of governments, the debate on BEPS is being led by the Organisation for Economic Cooperation and Development (OECD). The OECD's Action Plan on BEPS was published in July 2013, with a view to addressing perceived flaws in international tax rules. The 40 page Action Plan, which was negotiated and drafted with the active participation of its member states, contains 15 separate action points or work streams, some of which are further split into specific actions or outputs. The Plan is squarely focused on addressing these issues in a coordinated, comprehensive manner, and was endorsed by G20 leaders and finance ministers at their summit in St. Petersburg in September 2013. Completion of these 15 actions will take one to two years. While it may take considerably longer for the impact of these changes to be fully applied in practice, there are indications that the BEPS project and related developments are already leading to a material shift in the behaviour of tax authorities. Governments, revenue authorities and business will all have a material role to play over coming months if the proposed changes are to be effective. How should businesses be responding? We have recently issued a press release and a press article commenting on some Luxembourg perspectives. Contact Wim Piot Tax Leader Tel: +352 49 48 48 5773 Caroline Goemaere BEPS Leader Tel: +352 49 48 48 3002 Of further interest Transfer Pricing Global view on BEPS Tax Policy Bulletin Base Erosion and Profit Shifting Base Erosion and Profit Shifting News Publications Download our free iPhone/iPad App now Click here Alumni About Luxembourg RSS Multimedia Careers Contact us © 2013-2014 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. General Terms & Conditions Cookies info Site Provider Email Webmaster Site Map