Share with your friends



TaxNewsFlash-BEPS — KPMG's reports of developments of interest to multinationals on the OECD's base erosion and profit shifting (BEPS) initiative and tax transparency.


Related content



***NEW*** To subscribe to TaxNewsFlash, fill out the subscription form


>> Return to the TaxNewsFlash "global" homepage

>> Go to the TaxNewsFlash U.S. homepage

Recent Articles

May 2016

16 May - Belgium: Draft law, country-by-country reporting and transfer pricing documentation requirements

13 May - UK: Restrictions on tax deductibility of corporate interest expense, consultation 

13 May - OECD: Heads of tax administrations meet, discuss BEPS project implementation 

13 May - Norway: Proposed legislation to implement country-by-country reporting rules

12 May - OECD: Canada, Iceland, India, Israel, New Zealand, China advance country-by-country reporting

3 May - Sweden: Proposed legislation, transfer pricing documentation and
country-by-country reporting exchange

April 2016

27 Apr - OECD: Comments, discussion draft on treaty entitlement of non-CIV funds

27 Apr - Japan: Country-by-country reporting requirements

26 Apr - Switzerland: Country-by-country reporting, implementing legislation advances

20 Apr - Canada: Procedures for exchange of tax rulings under BEPS rules

20 Apr - Bermuda: Country-by-country reports, automatic exchange agreement signed

19 Apr - International organizations announce plans to cooperate on tax issues

13 Apr - OECD: Tax administrations meet on “Panama papers”

12 Apr - South Africa: Draft regulations, country-by-country reporting

12 Apr - EU: “Public” country-by-country reporting for multinational enterprises advances

6 Apr - OECD: Comments, treaty residence of pension funds

4 Apr - Canada: Country-by-country reporting in 2016  

4 Apr - UK: Discussion of BEPS-related measures in 2016 budget, Finance Bill

March 2016

31 Mar - Korea: Master file and local file templates are released

28 Mar - UK: BEPS items included in Finance (No. 2) Bill 2016 

24 Mar - OECD: Treaty benefits for non-CIV funds; BEPS follow-up consultation

23 Mar - Canada: Country-by-country reporting, transfer pricing proposals in 2016 federal budget

23 Mar - EU: Draft proposal on “public” country-by-country reporting

22 Mar - OECD: Standardized electronic format for exchanging country-by-country reports

18 Mar - Turkey: Draft communiqué on transfer pricing documentation, country-by-country reporting

16 Mar - UK: Tax proposals in 2016 budget; timetable for BEPS implementation

11 Mar - Luxembourg: Tax reform, addressing BEPS recommendations

11 Mar - UK: Preparing for country-by-country reporting

9 Mar - Australia: Costs of non-compliance with country-by-country reporting requirements

8 Mar - EU: Automatic exchange of country-by-country reporting by multinational companies

3 Mar - UK: Final country-by-country reporting regulations

3 Mar -  EU: State-aid investigations of “tax rulings,” response to U.S. concerns

1 Mar - India: Country-by-country reporting, transfer pricing documentation rules in budget 2016

February 2016

29 Feb - OECD: Draft changes to model treaty; residence of pension funds

26 Feb - EU: Roadmap on BEPS

26 Feb - Jersey: Consultation on country-by-country reporting

24 Feb - Africa: Regional focus on BEPS

23 Feb - OECD: Non-member countries may join as “BEPS associates”

22 Feb - KPMG report: Initial analysis of 2016 U.S. model treaty

22 Feb - New Zealand: Implementing AEOI regime, exchange of transfer pricing rulings

17 Feb - New U.S. model income tax treaty (2016) is released 

11 Feb - US: Treasury letter to EC on state aid investigations 

11 Feb - Australia: Consultation on BEPS-related transfer pricing recommendations

4 Feb - Senegal: Agreements signed for tax assistance, exchange of country-by-country reports

2 Feb - Nigeria: Country-by-country reporting update

January 2016

28 Jan - EU: New anti-tax avoidance package focused on corporations

27 Jan - OECD: Agreement signed for exchange of country-by-country reporting information

26 Jan - OECD: Countries to sign country-by-country implementation agreement

20 Jan - France: Country-by-country reporting, transfer pricing declaration

15 Jan - U.S. Senate Finance members urge Treasury intensify efforts, EU state aid investigations

13 Jan - Australia: Prepare now for country-by-country reporting

13 Jan - BEPS update: Countries implementing transfer pricing documentation, country-by-country reporting (table)

12 Jan - EU: Action plan for corporate tax, 2016

12 Jan -  Finland: Transfer pricing documentation rules,country-by-country reporting proposal

11 Jan - Belgium: “Excess profit” tax advantages to be recovered from multinationals

11 Jan - EU: Initiatives on corporate tax avoidance, scheduled for 27 January

5 Jan - Norway: Country-by-country reporting proposal, public consultation

5 Jan - Netherlands: New transfer pricing documentation rules enacted; country-by-country reporting

4 Jan - Korea: Master file and local file; “full” transfer pricing reporting

2015 Articles

December 2015

23 Dec - US: Country-by-country reporting, KPMG report on proposed regulations in United States

23 Dec - Italy: Country-by-country reporting approved in 2016 budget law

22 Dec - Denmark: Country-by-country reporting for 2016

22 Dec - Ireland: Country-by-country legislation is enacted

21 Dec - US proposed regulations: Country-by-country reporting; text of regulations

18 Dec - Australia: Country-by-country reporting guidelines

17 Dec - EU: Draft “anti-BEPS” directive, addressing corporate tax planning and evasion

15 Dec - Japan: Transfer pricing documentation rules, based on BEPS recommendations

7 Dec - Australia: Country-by-country reporting, public disclosure, other transparency measures passed

4 Dec - UK: Diverted profits tax guidance

November 2015

24 Nov - Legislative update: Congressional hearings on BEPS

23 Nov - OECD: Treaty-related MAP statistics for 2014 reporting period

18 Nov - France: Country-by-country reporting added to Finance Bill, 2016

18 Nov - Nigeria: Implications of BEPS proposals

17 Nov - Australia: New treaty with Germany reflects BEPS recommendations

17 Nov - OECD: G20 leaders endorse BEPS, automatic exchange of information projects

16 Nov - Qatar: Preparing for BEPS changes

10 Nov - UK: Changes to interest deductibility rules, implications for transfer pricing

9 Nov - France: Status of transfer pricing documentation, country-by-country reporting

7 Nov - OECD: BEPS-related meetings

5 Nov - Australia: Are investment entities excluded from “group” for country-by-country reporting?

5 Nov - Poland: Expanded transfer pricing, country-by-country reporting enacted

October 2015

26 Oct - Hungary: Implementing transfer pricing-related BEPS actions

20 Oct - Luxembourg: Draft legislative proposals to implement BEPS measures

16 Oct - France: Country-by-country reporting; BEPS provisions

13 Oct - BEPS: Current status of implementation in various countries

12 Oct - New Zealand: Path to BEPS implementation

12 Oct - Norway: Budget 2016, country-by-country reporting

12 Oct - US: BEPS deliverables formally accepted

9 Oct - OECD: G20 finance ministers endorse BEPS final recommendations

9 Oct - Australia: Government’s initial response to BEPS final reports

9 Oct - China: Tax administration’s response to BEPS

9 Oct - Ireland: BEPS implications for taxpayers

9 Oct - UK: BEPS implications for UK taxpayers; country-by-country reporting, patent box

7 Oct - KPMG report: BEPS special edition

7 Oct - Australia: BEPS implications for multinational enterprises

6 Oct - OECD: BEPS overview, FAQs, initial impressions

5 Oct - OECD: BEPS final recommendations text

September 2015

25 Sep - OECD: BEPS final reports expected 5 October

24 Sep - Brazil: Tax amnesty; disclosing tax-structured transactions

23 Sep - Denmark: Country-by-country reporting, documentation proposed  

21 Sep - KPMG report: Challenges of BEPS documentation

18 Sep - China: Transfer pricing discussion draft; BEPS influence

18 Sep - Mexico: Transfer pricing, country-by-country reporting proposals

17 Sep - Switzerland: “Go ahead” to accept final BEPS reports

16 Sep - Netherlands: “Country-by-country” reporting, documentation proposed for 2016

16 Sep - Australia: Country-by-country bill introduced

August 2015

27 Aug - US tax committee chairs question country-by-country reporting

24 Aug - China: Managing IP tax challenges in BEPS environment

20 Aug - Korea: Law to implement BEPS-related transfer pricing requirements

14 Aug - UK: Common framework for disclosing tax information

12 Aug - Australia: Country-by-country reporting update

7 Aug - Australia: Proposed CbC, transfer pricing documentation requirements


July 2015

17 Jul - Finance chairman expresses concerns with BEPS project


June 2015

30 Jun - OECD: BEPS status, as of June 2015

19 Jun - OECD: Comments, BEPS Action 8 (hard-to-value intangibles) discussion draft

18 Jun - OECD: Comments, discussion draft BEPS Action 6 (treaty abuse)

17 Jun - EU: Plan to curb corporate tax avoidance

15 Jun - OECD: Comments, BEPS Action 7 discussion draft (PE status)

11 Jun - OECD webcast provides BEPS status update

8 Jun - OECD: Implementation package for BEPS country-by-country reporting

5 Jun - OECD: Initial impressions, BEPS Action 8 (hard-to-value intangibles)

4 Jun - OECD: Discussion draft, BEPS Action 8 (hard-to-value intangibles)

1 Jun - OECD: Comments on BEPS Action 8 (cost contribution arrangements)


May 2015

28 May - OECD: Developing BEPS multilateral instrument

27 May - KPMG report: Revised discussion draft, BEPS Action 7 (artificial avoidance of PE status)

22 May OECD: Revised discussion draft, BEPS Action 6 (treaty abuse)

20 May - Tax treaty update: Proposed revisions to U.S. Model Tax Convention

15 May - BEPS: Action 7 preventing artificial avoidance of PE status

13 May - Australia: Transfer pricing-related measures in federal budget 2015

5 May - OECD: Discussion of BEPS Action 8 (cost contribution arrangements)

1 May - BEPS: KPMG comment letters on Actions 3 and 12


April 2015

29 Apr - OECD: Discussion draft, BEPS Action 8 (cost contribution arrangements)

27 Apr - OECD: BEPS Action 11 (improving analysis of BEPS)

20 Apr - KPMG report: Initial analysis of BEPS Action 3, (strengthening CFC rules) discussion draft

16 Apr - OECD: Discussion draft, BEPS Action 11 (improving BEPS analysis)

9 Apr - BEPS: Initial impressions of discussion draft (Action 12)

3 Apr - OECD: Discussion draft, BEPS Action 3 (CFC rules)

1 Apr - China: Guidance clarifying international tax rules, tax treaties


March 2015

31 Mar - OECD: Discussion draft, BEPS Action 12 (mandatory disclosure rules)

31 Mar - Spain: Enhanced documentation, reporting proposed; following BEPS Action 13

20 Mar - UK: Diverted profits tax, final legislation next week

18 Mar - EU: Tax transparency package, corporate tax avoidance


February 2015

25 Feb - Canada: Intercompany management fees

20 Feb - OECD: Agreement on modified nexus approach for IP regimes

19 Feb - OECD: Consultation on transfer pricing, 19-20 March

12 Feb - OECD: Transfer pricing documentation, country-by-country reporting

11 Feb - OECD: BEPS Action 4, public comments

10 Feb - OECD: BEPS comments, transfer pricing guidelines

9 Feb - OECD: Comments on BEPS Action 4

6 Feb - OECD: BEPS implementation update

6 Feb - OECD: Update on BEPS country-by-country reporting


January 2015

23 Jan - Ireland: BEPS and Irish business

23 Jan - OECD: Public consultation, BEPS Action 14 (dispute resolution)

22 Jan - OECD: Public consultations on BEPS Actions 6, 7

20 Jan - OECD: Comments concerning BEPS Action 10 (low value-adding services)

19 Jan - OECD: Comments concerning BEPS Action 14 (dispute resolution)

19 Jan - Australia: Arm’s length consideration and related-party loan

12 Jan - OECD: Comments on BEPS Actions 6 and 7

6 Jan - Japan: Tax reform proposals of new government coalition

2014 Articles

December 2014

23 Dec - OECD: Impressions concerning proposed Transfer Pricing Guidelines revisions

22 Dec - OECD: Initial impressions of MAP-related draft (BEPS Action 14)

19 Dec - OECD: Initial impressions of discussion draft (BEPS Action 10)

19 Dec - OECD: Initial impressions of discussion draft (BEPS Action 4)

19 Dec - EU: Luxembourg to comply with EC tax rulings investigation

19 Dec - OECD: Transfer pricing (BEPS Actions 8, 9 and 10)

18 Dec - OECD: Profit splits, global value chains (BEPS Action 10)

18 Dec - OECD: VAT/GST discussion drafts, relating to BEPS Action 1

18 Dec - OECD: Discussion draft on interest deductions (BEPS Action 4)

18 Dec - OECD: Discussion draft on dispute resolution (BEPS Action 14)

16 Dec - EU: Report on patent boxes, hybrid entities

16 Dec - OECD: Transfer pricing-related discussion drafts (BEPS Action 10)

15 Dec - Responses to UK’s “diverted profits tax”

10 Dec - UK: Finance Bill draft clauses; diverted profits tax

10 Dec - Luxembourg: Proposal to codify transfer pricing practice, advance rulings

9 Dec - EU: Measures approving anti-abuse clause, mandatory exchange of information

5 Dec - BEPS: Description of BEPS proposals in the UK

3 Dec - UK: Hybrid mismatch arrangements consultation, other BEPS-related focus

2 Dec - OECD: Webcast update on BEPS project (15 December)

2 Dec - Norway: Proposals for tax reform; maritime industry considerations

1 Dec - New Zealand: Inland Revenue’s timeline for BEPS consultations


November 2014

21 Nov - BEPS: follow-up work under Action 6 (prevent treaty abuse)

18 Nov - EU: Country actions, reactions to BEPS project

17 Nov - BEPS: Tax-related agreements from meeting of G20 leaders

12 Nov - OECD: Developing countries and BEPS

12 Nov - Germany: Agreement with UK on preferential IP regimes (BEPS)

10 Nov - OECD: Transfer pricing and BEPS Action 10 discussion draft

6 Nov - KPMG report: BEPS Action 7 discussion draft on preventing artificial avoidance of PE status

5 Nov - Asia Pacific: BEPS implications for taxation in the region

4 Nov - Canada: Resource companies to publish reports of tax payments

4 Nov - Latin America: BEPS implications for taxation in the region

4 Nov - Germany: Proposals for new anti-hybrid financing rule, intra-group transfers

3 Nov - OECD: Low value-adding intra-group services (BEPS Action 10)


October 2014

31 Oct - OECD: Prevent avoidance of PE status (BEPS Action 7)

22 Oct - OECD: BEPS, exchange of financial information to be addressed

10 Oct - United Kingdom: Consultation on BEPS hybrid mismatch arrangement announced

8 Oct - Australia: ATO’s response to seven BEPS action items

7 Oct - OECD: Comments published on BEPS Action 11

1 Oct - OECD: Timetable for publication of BEPS discussion drafts, comments


September 2014

29 Sept - Hong Kong: BEPS 2014 deliverables

26 Sept - Australia: Increased transfer pricing focus on intangible transactions

22 Sept - EU: Corporate tax-avoidance package (BEPS) endorsed by G20 ministers

19 Sept - Australia: Implications of BEPS deliverables for Australian businesses

19 Sept - India: Implications of BEPS for businesses in India

19 Sept - Netherlands: Dutch Cabinet’s initial response to BEPS recommendations

19 Sept - New Zealand: Implications of BEPS for New Zealand businesses

19 Sept - Japan: Main points of BEPS deliverables for Japanese businesses

19 Sept - OECD: Recommendations on preventing treaty abuse (BEPS Action 6)

19 Sept - United Kingdom: Updated FATCA guidance; BEPS deliverables

18 Sept - Canada: Potential implications of BEPS changes for Canadian corporations

18 Sept - OECD: Recommendations for multilateral instrument to modify tax treaties (BEPS Action 15)

18 Sept - OECD: Recommendations to counter harmful tax practices (BEPS Action 5)

18 Sept - OECD: Transfer pricing documentation, country-by-country reporting (BEPS Action 13)

16 Sept - OECD: First seven BEPS-related instruments, reports are presented

Prior Editions

Prior editions of TaxNewsFlash-BEPS (from 2014) are listed below, and are searchable by key words.

For a copy of a prior edition, send an email to with (1) date and (2) title.  A copy will be sent to you as soon as possible.

© 2020 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal