Annual global tax conference

On 2 and 3 June 2014 the US Council for International Business (USCIB) in cooperation with the OECD and Business and Industry Advisory Committee to the OECD (BIAC) held its ninth annual global tax conference.

The conference was focused on measures to address base erosion and profit shifting (BEPS). The Action Plan on these issues was elaborated by the OECD and approved at the 2013 G20 Summit in St. Petersburg. Engagement of business circles in consultations on BEPS was mentioned as one of the main conditions of the Action Plan successful implementation. Combatting BEPS was among the key issues on the “Business 20” (B20) agenda during the Russian G20 presidency. Special attention to BEPS-related issues is given in the White Book incorporating final B20 recommendations to the G20 leaders. Business community highlighted the importance of the issue and the need for joint efforts with governments to address it. Countering BEPS remains among the priorities of Australia’s G20 presidency in 2014.

The Conference provided a unique opportunity for business representatives to discuss combating BEPS and other tax issues, such as transfer pricing and tax authorities’ cooperation, with the OECD’s Center for Tax Policy and Administration experts, tax officials from the United States and other OECD countries, USCIB and other BIAC members’ representatives.

Highlights from the 2014 OECD International Tax Conference (prepared by PwC)