At 10.00am Central European Time tomorrow, Friday July 19 the OECD will issue its much awaited Comprehensive Action Plan (CAP) in response to the concerns expressed regarding Base Erosion and Profit Shifting (BEPS). The actions are expected to include calls for various coordinated legislative and administrative responses with aggressive deadlines ranging from 6 to 24 months.
The environment in which multinational organisations operate will definitely change overnight....how much and in what ways is yet to be seen. It will differ by country, industry and the conflicting political agendas of various members of the G20 that have been driving the urgency of this process.
I hope to keep you posted on this development as things unfold.