BEPS? Is It About the Interests of Industrialized Countries?
Yes, according to numerous advocacy groups involved with developing countries.
“Policymakers have been gathered this week in Addis Ababa, Ethiopia for the 3rd Financing for Development Conference, where discussions have been underway about ways to combat corporate tax evasion. At the conference, the United Nations Development Program and the Organization for Economic Cooperation and Development announced their plans to launch a global initiative called Tax Inspectors Without Borders to help developing countries bolster their domestic revenues by strengthening their tax audit capacities (see UN and OECD Launch Tax Inspectors Without Borders).
However, advocacy groups for the developing countries are accusing the U.S., Japan and European nations of preventing them from creating a more representative global tax body to combat international tax dodging and illicit financial flows and saying the move is threatening to derail the entire summit. They are complaining about the dominance of the OECD, which has traditionally been run by industrialized countries and until its recent initiative on base erosion and profit shifting, or BEPS, had mostly steered clear of cracking down on tax havens.”
See the complete article here at http://www.accountingtoday.com/news/tax-practice/industrialized-countries-developing-countries-international-tax-75197-1.html.
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