Sentences with phrase «base erosion»
The phrase "base erosion" refers to a situation where a company reduces its taxable income by shifting its profits to countries that have lower taxes or by exploiting tax loopholes. This can harm the tax base of a country as it leads to reduced tax revenue and can impact public services and infrastructure. Full definition
• prevent the avoidance of tax on income from the insurance of Canadian risks by extending the foreign - affiliate base erosion rules to foreign branches of Canadian life insurers.
canadianlawyermag.com
Tags: ACORE, American Council On Renewable Energy, american wind energy association, AWEA, Base Erosion Anti-Abuse Tax, BEAT, Citizens for Responsible Energy Solutions, Donor Relief Act, SEIA, Senate Republican tax bill, Senate Republicans, Senate Tax Cuts and Jobs Act, Solar Energy Industries Association's, tax bill
The discussion draft is part of the process in responding to the OECD «Action Plan on Base Erosion and Profit Shifting» (BEPS), a tax transparency initiative which is aimed to be implemented by the end of 2015.
OECD in the recent years has been working on multiple initiatives to counter the problem of base erosion and profit shifting (BEPS).
The new base erosion provisions will effectively deny deductions for certain payments by U.S. corporations to related parties and for certain «hybrid» payments that are treated differently by a foreign country than they are by the U.S.
The draft also calls for moving to a territorial tax system with base erosion protections and a temporary repatriation tax.
The thinking behind such moves is to prevent multinationals moving profits made in one country to another in order to avoid tax — a practice known as Base Erosion and Profit Shifting (BEPS).
(BEAT = base erosion and anti-abuse tax.)
The Chartered Institute of Taxation (CIOT) welcomes the publication by the Government today of a paper on the UK priorities for the G20 - OECD project for countering Base Erosion and Profit Shifting (BEPS).
Increasing complexity in business structures, the speed at which transactions are conceived and closed, and rapidly changing tax laws, particularly surrounding base erosion and profit shifting (BEPS) can result in unintended material tax consequences.
The BEPS Project is regarded as a multilateral solution to prevent base erosion and profit shifting, but are these solutions truly multilateral?
Earlier this year the OECD published «Addressing Base Erosion and Profit Shifting,» which looked at the root causes of BEPS and six pressure areas including the residence - source tax balance (particularly in a digital economy), transfer pricing issues, the effectiveness of anti-avoidance rules, and the existence of preferential regimes.
«I would certainly say that tax is more of a politician's big ticket item now that the OECD [Organisation for Economic Co-operation and Development] has started to publish its first set of recommendations related to the [base erosion and profit shifting] project.
The report follows the endorsement by the G20 of the OECD «Action Plan on Base Erosion and Profit Shifting» (BEPS), the outcomes of which are aimed to be implemented by the end of 2015.
Professor Wells was quoted in a Politico article commenting on the new base erosion and anti-abuse tax (BEAT), which was created by the recently enacted Tax Cuts and Jobs Act.
Today's legislation is the most detailed effort to date, itemizing each proposed change to the tax code along with appropriate transitions, base erosion protections, or other details where necessary.
For example, the OECD / G20 Base Erosion and Profit Shifting (BEPS) project Action 5.
While Barclays said the reduction in the tax rate is expected to «positively impact» its future post-tax earnings in the United States, it also cautioned that the Base Erosion Anti-Abuse Tax (BEAT), which was included in the legislation and designed to prevent multinational firms from abusing the tax code, could significantly offset that benefit.
The so - called BEAT tax — technically the «base erosion and anti-abuse» tax designed to discourage multinationals from moving profits and jobs offshore — could potentially have an impact on our counterparties for repurchase agreements, although the picture is somewhat murky at this point.
First off, the BEAT — the base erosion anti-abuse tax — is largely going to have an impact on the tax equity market.
We at pv magazine have explored in detail the impacts on renewable energy finance from the Base Erosion Anti-Abuse Tax (BEAT) provision, which was significantly altered in the final bill but remains a threat to tax equity financing.
Credit Suisse, meanwhile, expected to write down some SFr2.3 billion of DTAs, and also noted that it would be affected by another portion of the tax reforms — the introduction of the base erosion and anti-abuse tax (Beat), which is designed to limit how multinationals might move earnings to jurisdictions with even lower tax rates and was mostly downplayed as untroubling in the US bank results calls.
Regulation Management In October the OECD's Base Erosion and Profit Shifting (BEPS) project released a report outlining its progress on a series of steps it was taking to combat tactics — often legal but ethically questionable — used by many multinational companies to reduce or eliminate tax liabilities across their operations.
The provision, the base erosion and anti-abuse tax, might even cancel out the benefit of a lower headline rate.
Concrete results have been achieved on «shadow banking» regulation, on anti-corruption information sharing mechanisms, and on the OECD plan to fight international tax avoidance and evasion (Base Erosion and Profit Shifting).
The G20 finance ministers» meeting in April this year saw an endorsement of information exchanges on tax issues and the OECD is studying the best ways of countering multinational firms» base erosion and profit shifting techniques.
The G20 / OECD project on Base Erosion and Profit Shifting (BEPS) will publish its final reports on Monday 5 October.
This isotope technique has been used for several decades for measuring land - based erosion, but this is its first application to ocean core samples, said Lee Corbett, a postdoctoral researcher at UVM and co-author with Bierman.
The issue in question is the current language of the Base Erosion Anti-Abuse Tax (BEAT) provisions in the jauntily named Senate Tax Cuts and Jobs Act (also known in some circles as the Donor Relief Act).
And at the OECD's site, there's a remarkably straightforward statement, no hand - wringing, of the problem the organization's own write - up, Closing tax gaps — OECD launches Action Plan on Base Erosion and Profit Shifting:
X Several organizations supporting the renewable - energy sector sent a joint statement to members of the Senate, asking them to reconsider the Base Erosion Anti-Abuse Tax, or BEAT, provision, and also the corporate Alternative Minimum Tax.
The Base Erosion and Profit Shifting (BEPS) is a project initiated in 2012 by...
Bermuda's commitment to the BEPS (Base Erosion and Profit - Shifting) Inclusive Framework which obliges the island to enforce BEPS minimum standards and to support the OECD BEPS Multilateral Instrument.
The Base Erosion and Profit Shifting (BEPS) is a project initiated in 2012 by the G - 20 and the Organisation for Economic Co-operation and Development (OECD) that encompasses the most overwhelming change in cross-border tax policies in a century.
The base erosion and profit shifting (BEPS) initiative will be applied here only if there are no reduction on taxes collected by Brazil.
Lately and most commonly, the base erosion and profit shifting project being analysed by the Mexican taxing authorities, bring into play all the intercompany transactions and payments.
In recent years, the EU and the OECD have been keeping an eye on business activities, especially since 2013, through the BEPS project (The Base Erosion and Profit Shifting).
Following the Organisation for Economic Co-operation and Development's (OECD) considerations on the base erosion of profits (BEPS) we have seen many countries introduce legislation to attempt to tax large multi-nationals.
As a member of the Business and Industry Advisory Committee to the OECD, CRA is directly involved in the significant revisions to transfer pricing guidelines that OECD finalized in 2015, as mandated by the G20 - OECD action plan on BEPS (Base Erosion and Profit Shifting).
As a member of the Business and Industry Advisory Committee to the OECD, CRA is directly involved in the significant revisions to transfer pricing guidelines that the OECD plans to finalize in 2015, as mandated by the G20 - OECD action plan on BEPS (Base Erosion and Profit Shifting).
New base erosion payment regimes will make cross-border structures require more analysis to determine if payments among related parties trigger the new base erosion tax, described in further detail below.
The «highly proactive team» at Wong & Partners garners respect for its tax strategy, transfer pricing and base erosion and profit shifting advice.
The Organization for Economic Cooperation and Development's (the «OECD») Base Erosion Profit Shifting («BEPS») Proposals have been moving forward at a rapid pace
The budget contained a number of initiatives the government is going to pursue to ensure it aligns its policies more globally such as the Base Erosion and Profit Shifting initiatives of other jurisdictions.