February 15, 2023
Why BEPS 2.0 needs consistency, coordination and certainty
Progress on the Organisation for Economic Co-operation and Development (OCED)/G20 base erosion and profit shifting (BEPS) 2.0 project reached an inflection point in October 2021 when high-level political agreement on its key parameters was achieved. This reflected commitment from 137 of the 141 jurisdictions participating in the project on transformational changes to the international tax system. The G20 Finance Ministers endorsed the agreement and reiterated their pledge to advance the work under an ambitious timeline that envisioned new tax rules coming into effect in 2023. This article discusses the unique technical, political challenges for individual countries and the role of G20 to lead and to make global tax transformation workable for all.
An EY article is available here.