Strategizing International Tax Best Practices – by Keith Brockman

Asia: BEPS Review

Loyens & Loeff have published a clear and concise summary of several OECD BEPS deliverables, as well as summarizing the potential impacts of BEPS for each of the following countries:

  • China (PRC)
  • Hong Kong
  • India
  • Indonesia
  • Japan
  • Korea
  • Malaysia
  • Philippines
  • Singapore
  • Taiwan
  • Thailand
  • Vietnam

A link to the publication is provided for reference:

Click to access AsiaNewsletter-BEPS.pdf

This publication provides a concise summary addressing the topics of Characterization and position re: BEPS, BEPS related measures and an Outlook summary for each country.  The recent December 2014 BEPS drafts are not covered in this publication.

Best Practice observations:

MNE’s should be gathering a master file of the BEPS Action Items and status of each Item for each country in which it operates, as the timing of legislation will be different, including countries that have already enacted several Action Items.  Based upon this schedule, a strategic review of items affecting the Company can be developed, reviewed and implemented efficiently.  This schedule will also be a valuable dynamic tool for presentation to internal stakeholders that addresses the impact of BEPS.

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