Today, the OECD released its first recommendations under the base erosion and profit shifting (“BEPS”) project in a series of reports.  These reports relate to:

  • The tax challenges of the digital economy (Action 1)
  • Hybrid mismatch arrangements (Action 2)
  • Harmful tax practices (Action 5)
  • Tax treaty abuse (Action 6)
  • Transfer pricing issues in the key area of intangibles (Action 8)
  • Transfer pricing documentation and country-by-country reporting (Action 13)
  • The feasibility of developing a multilateral instrument on BEPS (Action 15)

The reports and an explanatory statement issued by the OECD are now available.