Volume 44 (2016) / Issue 5
In late 2015, the Organisation for Economic Cooperation and Development ("OECD") released its final Base Erosion Profit Shifting (“BEPS”) Reports. Although the United States has been generally supportive of the general policies surrounding the BEPS proposals, it has been more skeptical than any other country concerning certain suggested recommendations. Also, the United States believes that few or no changes are required under domestic law to be aligned with the BEPS proposals the United States supports, because of strict laws that are already in place. At the same time, the United States Treasury’s main goal is to prevent other countries from taxing what it views to be “its” tax base or “nowhere income” through the BEPS proposals. This article seeks to review the main action items that have been of contention in the United States, namely Actions 7-10, 13 and 15 and the United States Treasury’s position on these items.
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