OECD update on preferential tax regimes

The OECD has released their latest report following a peer review on preferential tax regimes. In order to ensure a level playing field in the international tax arena, there has been concerted effort to ensure that jurisdictions do not engage in harmful tax practices which includes regimes that creates distortions in taxation. The report reveals significant improvement as most jurisdictions take steps to review their tax regimes and make them compliant with the requirements of Action 5 of the OECD’s Action Plan on Base Erosion and Profit Shifting (BEPS). 

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Gerry Cook